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Name: A decrease in economic benefits or decrease in assets or increase in l
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Description: A decrease in economic benefits or decrease in assets or increase in liability resulting in decrease in equity is termed as.a.Capitalb.Incomec.Expensed.Liability

Business

Accounting

A decrease in economic benefits or decrease in assets or increase in liability resulting in decrease in equity is termed as. a. Capital b. Income c. Expense d. Liability

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter2: Analyzing Transactions: The Accounting Equation

Section: Chapter Questions

Problem 6TF: Expenses represent outflows of assets or increases in liabilities as a result of efforts to produce...

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