If a corporation purchases a delivery van for $35,000 cash, the net impact of this transaction will

Question:

If a corporation purchases a delivery van for $35,000 cash, the net impact of this transaction will be
a. A decrease in total assets of $35,000.
b. An increase in total assets of $35,000.
c. An increase in both assets and liabilities of $35,000.
d. No impact on total assets.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...

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