Business Environment and Recording Transactions
posted by candy on .
Give an example of a business transaction that has the described effect on the accounting equation:
Increase an asset and increase a liability.
Increase one asset and decrease another asset.
Decrease an asset and decrease owner's equity.
Decrease an asset and decrease a liability.
Increase an asset and increase owner's equity.
Please help me :(
Look up the definitions of asset and liability, and then these questions become very easy.