Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 43 - No. 40)
Which of the following transactions will increase a company's assets?
Receive cash from a customer for services rendered.
Purchase supplies on account.
Pay rent for the month.
The owner contributes cash into the business.
Explanation
In the first transaction, the company receives money increasing assets. In the second, the company receives cash increasing assets as well.
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