Which of the following transactions would cause one asset to increase and another asset to decrease?
A) The owner invested cash in the business.
B) The business paid a creditor.
C) The business incurred an Expense on credit.
D) The business bought supplies for cash.

Question

Quizplus · Accepted Answer

When the business buys supplies for cash, the supplies (an asset) increase, while cash (another asset) decreases.

Which of the Following Transactions Would Cause One Asset to Increase