Which of the following transactions would cause one asset to decrease and another asset to increase?

A) The business provided services to a cash customer.
B) The business bought supplies for cash.
C) The owner withdrew cash from the business.
D) All of the above are correct.

Question

Mayson Miller · Accepted Answer

Final Answer : B, Explanation :  Buying supplies for cash decreases the cash asset while increasing the supplies asset.

Which of the following transactions would cause one asset to decrease and another asset to increase?

A) The business provided services to a cash customer.
B) The business bought supplies for cash.
C) The owner withdrew cash from the business.
D) All of the above are correct.

Definitions

Learning Objectives

Learning Objectives

Related questions

Which of the following transactions would cause one asset to decrease and another asset to increase?A) The business provided services to a cash customer.B) The business bought supplies for cash.C) The owner withdrew cash from the business.D) All of the above are correct.

Definitions

Learning Objectives

Learning Objectives

Related questions

Which of the following transactions would cause one asset to decrease and another asset to increase?

A) The business provided services to a cash customer.
B) The business bought supplies for cash.
C) The owner withdrew cash from the business.
D) All of the above are correct.