Which of the following does not correctly describe the following adjusting journal entry?

A) Total assets increase.
B) The transaction is an example of an accrual.
C) Stockholders' equity decreases.
D) Net income increases.

Accrual

A financial recording approach that logs income and expenditures at the time they occur, irrespective of the actual cash transaction timing.

Adjusting Journal Entry

A type of journal entry made at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred.