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, one asset (supplies) increases while another asset (cash) decreases.

Which of the Following Transactions Would Cause One Asset to Increase