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| Q. |
Which of the following is true? |
| A. | The payment of a Liability causes an increase in Owner‘s Equity |
| B. | The collection of an Account Receivable will cause Total Assets to increase |
| C. | The accounting equation may be stated as: Assets+Liabilities = Owners‘ equity |
| D. | The purchase of an asset such as office equipment, either for cash or on credit, does not change the Owners‘ Equity |
| Answer» D. The purchase of an asset such as office equipment, either for cash or on credit, does not change the Owners‘ Equity | |
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