Which of the following statements is incorrect ? Select one: a. When an asset (other than cash) decreases, the Cash account decreases b. When an asset (other than cash) increases, the cash account decreases c. When a liability decreases, the Cash account decreases d. When owner's equity increases, the Cash account increases

Which of the following statements is incorrect ? Select one: a. When an asset (other than cash) decreases, the Cash account decreases b. When an asset (other than cash) increases, the cash account decreases c. When a liability decreases, the Cash account decreases d. When owner's equity increases, the Cash account increases

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 5MCQ

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