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Which type of adjusting entry decrease total assets

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Reference no: EM132811689

Problem 1: Recording of depreciation expense causes a decrease in all of the following except.

A. Assets

B. Liabilities

C. Owner's equity

D. Plants, Property, and equipment

Problem 2: A decrease in assets means there was a net loss during the period

A. Never true

B. Sometimes True

C. Always true

D. Rarely true

Problem 3: Which type of adjusting entry decrease total assets?

A. Depreciation expense

B. Bad debt expense

C. Accrued Expense

D. Prepaid Expense

Reference no: EM132811689

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