Question

When a business purchases a $50,000 computer system by writing a check, the business's balance sheet will:
A. only show an increase in liabilities of $50,000.
B. show an increase in assets and liabilities for $50,000.
C. not reflect any increase in assets or liabilities, only a change in the composition of assets.
D. only show an increase in assets of $50,000.

Answer

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