Because of some careless book keeping, energy corporation had some errors in their accounting. Which direct effects on the accounting equation isn't possible as a result of a single business transaction which impact only 2 accounts? A. Increase in liability and increase in asset. B. Increase in asset and decrease in another asset. C. A decrease in stocholders' equity and increase in an asset. D. Increase in asset and increase in stockholders' equity

Because of some careless book keeping, energy corporation had some errors in their accounting. Which direct effects on the accounting equation isn't possible as a result of a single business transaction which impact only 2 accounts? A. Increase in liability and increase in asset. B. Increase in asset and decrease in another asset. C. A decrease in stocholders' equity and increase in an asset. D. Increase in asset and increase in stockholders' equity

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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