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A utility bill is received for expenses incurred. It will be paid in the following...

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Accounting

A utility bill is received for expenses incurred. It will be paid in the following accounting period. Which of the following would be TRUE as a result of the receipt of the utility bill? Group of answer choices

Net income will increase.

Owners equity will decrease.

Total liabilities will decrease.

There will be no effect on total liabilities.

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