Which of the following is not a possible effect on the accounting equation from a single transaction of $1000?
A) Assets increase by $1000; Equity increases by $1000.
B) Assets decrease by $1000; Liabilities decrease by $1000.
C) Liabilities increase by $1000; Liabilities decrease by $1000.
D) Liabilities decrease by $1000; Equity decreases by $1000.

Question

Quizplus · Accepted Answer

The Answer of Which of the following is not a possible effect on the accounting equation from a single transaction of $1000?
A) Assets increase by $1000; Equity increases by $1000.
B) Assets decrease by $1000; Liabilities decrease by $1000.
C) Liabilities increase by $1000; Liabilities decrease by $1000.
D) Liabilities decrease by $1000; Equity decreases by $1000.

Which of the Following Is Not a Possible Effect on the Accounting