QUESTIONS 45 THROUGH 68 RELATE TO FINANCIAL STATEMENT ANALYSIS

58. - MOCK AND SAMPLE EXAMS CFA LEVEL I MOCK EXAM AFTERNOON 2012
MOCK AND SAMPLE EXAMS CFA LEVEL I MOCK EXAM AFTERNOON 2012
58. What is the most likely effect on the accounting equation when a company purchases office equipment with cash? A. Assets increase, and liabilities increase. B. There is no effect on the accounting equation. C. Assets decrease, and owners’ equity decreases.