ncies Current Attempt in Progress A list of effects on the accounting equation follows. For each effect, select an example of a transaction that would cause it. 1. Increases an asset and increases a liability. 2. Increases an asset and increases owner's equity. 3. Decreases an asset and decreases a liability. 4. Decreases owner's equity and decreases an asset. 5. Increases a liability and decreases owner's equity. 6. . Increases one asset and decreases another asset. eTextbook and Media Save for Later Attempts: 0 of 3 used Submit