Which of the following does not describe the effects of an asset use transaction on a company's financial statements?
A) Option A
B) Option B
C) Option C
D) Option D

Question

Which of the following does not describe the effects of an asset use transaction on a company's financial statements? 
A) Option A 
B) Option B 
C) Option C 
D) Option D

Quizplus · Accepted Answer

An asset use transaction is one that decreases a business's assets and decreases either liabilities or equity. An asset use transaction may or may not affect expenses. If the asset account decreased is cash, there will be an effect on cash flows.

Which of the Following Does Not Describe the Effects of an Asset