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17 July, 01:21

How does the purchase of office equipment on account affect the accounting equation?

a. assets increase, and liabilities decrease

b. assets increase, and owner's equity increases

c. assets increase, and liabilities increase

d. liabilities increase, and owner, and owner's equity decreases

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Answers (1)
  1. 17 July, 01:27
    0
    Answer C would be correct because it provides new assets to the corporation.
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