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H3Ko H3Ko
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Bliss Corporation settles a liability by making a payment in cash. How does paying this liability affect the accounting equation of the business?
A) assets and liabilities increase
B) liabilities decrease and equity increases
C) assets increase and equity decreases
D) assets and liabilities decrease
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
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H3Ko Author
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7 years ago
I just realized you had posted this! Thanks so much
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