A transaction that decreases a liability and increases an asset must also affect one or more other accounts.

Name: A transaction that decreases a liability and increases an asset must also affect one or more other accounts.
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Quizplus · Accepted Answer

This is because every transaction in accounting follows the fundamental accounting equation of Assets = Liabilities + Equity. Thus, any decrease in liabilities must result in an increase in either assets or equity, and vice versa.

A Transaction That Decreases a Liability and Increases an Asset