Accounting 9706 · AS & A Level · The accounting system

The accounting system — practice question

At the close of a financial year, these events occurred in a business. What impact did the two transactions have on the business’s net assets?

  • A$\$10\,000$ decrease
  • B$\$20\,000$ decrease
  • C$\$10\,000$ increase
  • D$\$20\,000$ increase

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