C-02-Q130mediumsingle_mcq
What is the effect of the bank loan taken by Hasan & Associates on the accounting equation?
What is the effect of the bank loan taken by Hasan & Associates on the accounting equation?
- aAsset increases, owner's equity increases
- bAsset (cash) increases, liability (loan) increases
- cAsset decreases, liability decreases
- dAsset decreases, owner's equity decreases