Indicate whether each of the following statements is true or false. If a company made the following journal entry, this entry would cause:
_____ a) total claims to stay the same.
_____ b) total assets to remain the same.
_____ c) liabilities to decrease.
_____ d) cash flows from operating activities to increase.
_____ e) owners' equity to decrease.

Question

Indicate whether each of the following statements is true or false. If a company made the following journal entry,  this entry would cause:
_____ a) total claims to stay the same.
_____ b) total assets to remain the same.
_____ c) liabilities to decrease.
_____ d) cash flows from operating activities to increase.
_____ e) owners' equity to decrease.

Quizplus · Accepted Answer

The Answer of Indicate whether each of the following statements is true or false. If a company made the following journal entry,  this entry would cause:
_____ a) total claims to stay the same.
_____ b) total assets to remain the same.
_____ c) liabilities to decrease.
_____ d) cash flows from operating activities to increase.
_____ e) owners' equity to decrease.

Indicate Whether Each of the Following Statements Is True or False