Problem: When a company performs services for cash, the effects on the fundamental accounting equation are: a. increase assets and decrease stockholders' equity b. increase assets and increase stockholders' equity c. increase liabilities and increase stockholders' equity d. increase assets and increase liabilities

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Problem Details

When a company performs services for cash, the effects on the fundamental accounting equation are:

a. increase assets and decrease stockholders' equity

b. increase assets and increase stockholders' equity

c. increase liabilities and increase stockholders' equity

d. increase assets and increase liabilities

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