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Natasha Landsberg
on Nov 14, 2024

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If an individual asset is increased then

A) there must be an equal decrease in a specific liability.
B) there must be an equal decrease in owner's equity.
C) there must be an equal decrease in another asset.
D) All of these answer choices are possible.

Individual Asset

A singular item of value owned by an entity, such as cash, investments, equipment, or property.

Liability

an obligation or debt that a company or individual has, typically arising during the course of business operations.

Owner's Equity

Owner's Equity, also known as proprietor’s equity, is the residual claim against the assets of a business after all liabilities are paid. It represents the owner’s investment in the business.

  • Comprehend the impact of business transactions on the accounting equation.
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Julia HulbigNov 19, 2024
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