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Thanh duong
on Nov 14, 2024

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If supplies that have been purchased are used in the course of business then

A) a liability will increase.
B) an asset will increase.
C) owner's equity will decrease.
D) owner's equity will increase.

Supplies

Items or materials used in the operation of a business, often consumable in nature.

Owner's Equity

The residual interest in the assets of the entity after deducting liabilities, essentially the net assets owned by the proprietors.

Liability

Financial obligations or debts that a company owes to others, which need to be settled over time through the transfer of economic benefits including money, goods, or services.

  • Understand the process by which revenues, expenses, and withdrawals contribute to changes in owner's equity.
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Natalie RosalesNov 20, 2024
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