Question: Using the notion that the accounting equation Assets Liabilities

Using the notion that the accounting equation (Assets = Liabilities + Stockholders’ Equity) must remain in balance, indicate whether each of the following transactions is possible.
a. Cash increases; Accounts Payable decreases.
b. Service Revenue increases; Salaries Payable increases.
c. Advertising Expense increases; Cash decreases.


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  • CreatedJuly 15, 2014
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