Due to a transaction, an asset account may increase or decrease. which of the following accounts should
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Question:
Due to a transaction, an asset account may increase or decrease. which of the following accounts should also necessarily be impacted: (i) the Liability account, (ii) the Retained Earnings account, (iii) the Dividend account, (iv) the Stockholders' Equity account?
A .Liability and Stockholder's Equity accounts only
B. Retained Earnings and Dividends accounts only
C. It is not necessary that any of the four given accounts be impacted
D. Liability, and Retained Earnings accounts only
Related Book For
Management Fundamentals Concepts Applications & Skill Development
ISBN: 978-1483352268
6th edition
Authors: Robert N. Lussier
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