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Home Q & A Board Other Fields Homework Help Business Accounting
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tivo tivo
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A business pays off a note payable. What effect does this have on the accounting equation?
A) Assets go up, Liabilities go down, and Stockholders' Equity remains the same.
B) Assets go down, Liabilities remain the same, and Stockholders' Equity goes up.
C) Assets go down, Liabilities go down, and Stockholders' Equity remains the same.
D) Assets go up, Liabilities remain the same, and Stockholders' Equity goes up.
Textbook 
Financial Accounting

Financial Accounting


Edition: 3rd
Authors:
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antonio_johnantonio_john
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Massachusetts Institute of Technology
-- Accounting

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tivo Author
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#2
7 years ago
I appreciate it once again, answered correctly
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