Which of the following transactions would cause one asset to increase and another asset to decrease?...
Which of the following transactions would cause one asset to increase and another asset to decrease?
Group of answer choices The business incurred an expense on credit. The owner invested cash in the business. The business paid a creditor. The business bought supplies inventory for cash.
Homework Answers
Correct option-
The Business bought supplies inventory for cash. Inventory is an asset therefore resulting to increases assests.
Other options-
The business incurred an expense on cash. Expense will go through to profit and loss account.
The owner invested cash in the business. It's operational activity.
The business paid to creditor. Creditor is our liability once it is paid means we have decreased our liability.
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