The effect of payment made to creditors of the business would be a. Increase an asset and increase a liability O b. Decrease an asset and decrease owners equity Oc. Increase an asset and decrease other asset O d. Decrease an asset and decrease liability

The effect of payment made to creditors of the business would be a. Increase an asset and increase a liability O b. Decrease an asset and decrease owners equity Oc. Increase an asset and decrease other asset O d. Decrease an asset and decrease liability

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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The effect of payment made to creditors of the business would be
O a. Increase an asset and increase a liability
O b. Decrease an asset and decrease owners equity
O c. Increase an asset and decrease other asset
O d. Decrease an asset and decrease liability

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