Q. Which of the following is true? (Solved)
1. The payment of a Liability causes an increase in Owner‘s Equity
2. The collection of an Account Receivable will cause Total Assets to increase
3. The accounting equation may be stated as: Assets+Liabilities = Owners‘ equity
4. The purchase of an asset such as office equipment, either for cash or on credit, does not change the Owners‘ Equity
- d. The purchase of an asset such as office equipment, either for cash or on credit, does not change the Owners‘ Equity