for a ignore my answer(Assets decrease $7000 and liabilities decrease $7000) because, it's wrong

please ignore my answer( when the good or service being purchased by the company has been received and used) because it's wrong

View pr In October, your company prepays rent of $7,000 for November and December. Which of the following describes the effects of this transaction in October? Multiple Choice Assets decrease $7,000 and liabilities decrease $7,000. Assets increase $7,000 and shareholders' equity increases $7,000. Assets, liabilities and shareholders' equity all remain unchanged. Multiple Choice Assets decrease $7,000 and liabilities decrease $7,000. ( ) Assets increase $7,000 and shareholders' equity increases $7,000. Assets, liabilities and shareholders' equity all remain unchanged. Liabilities decrease $7,000 and shareholders' equity increases $7,000. One of the ways companies can mislead investors is by inappropriately capitalizing costs. When is it appropriate to capitalize costs? Multiple Choice When the good or service being purchased by the company has been received and used. When the good or service being purchased by the company has not yet been paid. When the work has already been performed View previ When the good or service being purchased by the company has been received and used When the good or service being purchased by the company has not yet been paid. When the work has already been performed. When future economic benefits are associated with the cost