The purchase of office supplies on account will: （ ）.
A: Increase an asset and decrease a liability
B: Increase one asset and decrease another asset
C: Increase an asset and increase a liability
D: Decrease an asset and decrease a liability
A: Increase an asset and decrease a liability
B: Increase one asset and decrease another asset
C: Increase an asset and increase a liability
D: Decrease an asset and decrease a liability
举一反三
- An expenditure results either in a(n) ( ) in the asset account or a(n) ( ) in a liability account. A: decrease, decrease B: increase, increase C: increase, decrease D: decrease, increase
- Which of the following is a debit entry? A: Sales B: An increase in a liability C: A decrease in an asset D: An increase in cash
- Which one of the following statements is correct？ A: An increase in an asset is a debit and an increase in an expense is a credit B: An increase in capital is a debit and an increase in a liability is a credit C: An increase in an expense is a debit and a reduction in an asset is a credit D: A reduction in a liability is a debit and an increase in an expense is a credit
- To reduce the cost of long-term borrowing, a corporation with a below average credit rating could: A: issue asset backed securities. B: decrease credit enhancement. C: increase debt outstanding.
- If the tax base of an asset exceeds the asset"s carrying value and a reversal is expected in the future: A: a deferred tax asset is created. B: a deferred tax liability is created. C: neither a deferred tax asset nor a deferred tax liability is created.