Accounting WAEC

What is the effect on a firm for making a payment of N10,000 to creditor? its liabilities
What is the effect on a firm for making a payment of N10,000 to creditor? its liabilitiesWhat is the effect on a firm for making a payment of N10,000 to creditor? its liabilities

A. decrease and its assets decrease
B. increase and its assets decrease
C. decrease and its assets increase
D. increase and its assets increase

Correct Answer: Option D

D. increase and its assets increase

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