What would be the effect on the accounts if the business purchased equipment on account? OA. An asset would be debited and a Liability credited.
OB. An asset would be debited and Liability debited.
Oc. An asset would be debited and an expense debited.
OD. Expense would be debited and Liability credited.

A. An asset would be debited and a Liability credited.

Explanation:

Purchasing on account means buying on credit. The debts of the business increase. As a result,  liabilities increase.

Equipment is a business asset. Purchasing equipment increases assets.

In the double-entry accounting system, An increase in an asset is recorded by debiting the asset account. An increase in liabilities is captured by crediting the liabilities account.

the answer is b. the events might happen and are based on crimes.

answer; conceptual skills;