Which of the following transactions would cause an asset to decrease and the Owner's Equity to decrease?
A) The owner invested cash in the business.
B) The business incurred an Expense on credit.
C) The business bought supplies on account.
D) None of the above.

Question

Quizplus · Accepted Answer

None of the options provided would simultaneously decrease an asset and the Owner's Equity. Option A increases both, while options B and C affect liabilities or expenses without directly decreasing Owner's Equity through the transactions described.

Which of the Following Transactions Would Cause an Asset to Decrease