Bliss Corporation settles a liability by making a payment in cash. How does paying this liability affect the accounting equation of the business?

A) assets and liabilities decrease
B) liabilities decrease and equity increases
C) assets and liabilities increase
D) assets increase and equity decreases


A

Business

You might also like to view...

Discuss the traditional mail interview method and the typical mail interview package

What will be an ideal response?

Business

Compare and contrast characteristics of groups and teams.

What will be an ideal response?

Business

Cash budgeting is important to which of the following?

A) retail stores B) manufacturing firms C) not for profit agencies D) local government agencies E) all of these

Business

The major value drivers that managers have at their disposal include product features, customer service, and complements.

Answer the following statement true (T) or false (F)

Business