Chapter 3 Questions

Chapter 3 Questions - Chapter 3 Questions a. Assets...

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Unformatted text preview: Chapter 3 Questions a. Assets decrease and owners' equity decreases b. Liabilities increase and owners' equity decreases c. Assets increase and liabilities increase d. Assets decrease and liabilities decrease 1. The purchase of office equipment on credit has what effect on the accounting equation? a. Assets decrease and owners' equity decreases b. Liabilities increase and owners' equity decreases c. Assets increase and liabilities increase d. Assets decrease and liabilities decrease 1. The purchase of office equipment on credit has what effect on the accounting equation? a. Assets decrease and owners' equity decreases b. Liabilities decrease and owners' equity decreases c. Assets decrease and liabilities increase d. Assets increase and liabilities decrease 2. The payment of employee salaries has what effect on the accounting equation? a. Assets decrease and owners' equity decreases b. Liabilities decrease and owners' equity decreases c. Assets decrease and liabilities increase d. Assets increase and liabilities decrease 2. The payment of employee salaries has what effect on the accounting equation? a. Owners equity decreases....
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This note was uploaded on 04/15/2011 for the course ACCT 2101 taught by Professor Christianwurst during the Spring '08 term at Temple.

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Chapter 3 Questions - Chapter 3 Questions a. Assets...

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