Multiple Choice Question

Which statement is correct regarding entering transactions into the accounting equation?

If one asset account is increased, then another asset account must be decreased in order for the left side of the accounting equation to be bal$-$

anced.

If total assets are increased, then liabilities only are increased as well.

After recording a transaction, the total of the right side of the accounting equation must equal the total of the left side of the accounting equation.

If one account is credited, then at least one other account must be credited as well.

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