Simpson King
02/28/2024 · Senior High School
A transaction that increases an asset and decreases a liability is called an A. Liability decrease B. Asset increase C. Equity increase D. Asset exchange
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The correct answer is:
B. Asset increase
When a transaction increases an asset and decreases a liability, it is typically a transaction that improves the financial position of the entity by reducing its obligations while increasing its resources.
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B. Asset increase
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