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A purchase of a vehicle for cash would have which effect on the accounting equation? A. Total asset amount remains the same. B. Total liabilities are overstated. C. Total owner’s equity is overstated.
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A purchase of a vehicle for cash would have which effect on the accounting equation? A. Total asset amount remains the same. B. Total liabilities are overstated. C. Total owner’s equity is overstated. D. Both A and B

User SarvavijJana
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1 Answer

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The correct answer to your question is letter A. Total asset amount remains the same.
User Alex H Hadik
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