The purchase of office equipment on account would involve a(n) ...

[c0205847]

The purchase of office equipment on account would involve a(n)
 a. increasing an asset and increasing a liability.
  b. decreasing an asset and increasing an asset.
  c. decreasing an asset and increasing an expense.
  d. increasing an asset and increasing an expense.

Question 2

Personal balance sheet provides a snapshot of an individual's financial condition at a specific point in time.
 
  Indicate whether the statement is true or false

[asdfasdf]

Answer to Question 1

A

Answer to Question 2

TRUE
Explanation: Similar to a company's balance sheet, a personal balance sheet provides a snapshot of an individual's financial condition at a specific point in time.

[c0205847]

Thank you

[asdfasdf]

Happy to help you