Which of the following would cause total assets to decrease and total expenses to increase?
A) Recording the depreciation of equipment
B) Recording the consumption of supplies
C) Recording the expiration of Prepaid Rent Expense
D) All of the above would have that effect.

Question

Quizplus · Accepted Answer

All of the options listed involve adjusting entries that would decrease total assets (by reducing the value of equipment, supplies, or prepaid expenses) and increase total expenses (by recording depreciation, supplies expense, or rent expense).

Which of the Following Would Cause Total Assets to Decrease