It is possible for a transaction to change the makeup of assets,but to NOT affect assets in total.
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Q2: A business receives $10,000 cash for a
Q3: Equality of the accounting equation means that
Q5: When an accounts payable account is paid
Q8: The effect of every transaction is an
Q12: Retained earnings will be increased by the
Q14: Revenues decrease stockholders' equity.
Q15: When capital stock is issued by a
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Q20: The accounting equation is expressed as follows:
Q24: Dividends are an example of an expense.
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