Answered: An increase in economic benefits or…

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

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

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