One way of increasing the equity of a business is to increase a liability.
Correct Answer:
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Q55: The recording of an owner withdrawal has
Q56: Owner's equity is an:
A)insider claim to the
Q57: An owner investment would increase the assets
Q58: All of the following describe a liability
Q59: If total liabilities decrease by $22,000 and
Q61: Earning a revenue on account would:
A)have no
Q62: Purchasing supplies for cash would:
A)decrease total assets
Q63: If owner's equity is $200,000 and total
Q64: If total liabilities are $98,000 and owner's
Q65: Purchasing office equipment on account would:
A)increase total
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