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Time left 0 Question 14 Not yet A business purchased some Tools for OMR 7,000 on credit. Identify the result of above transaction on different elements of financial statement answered Marked out of 0.50 Flag question O a. The transaction results in an equal decrease in both assets and liabilities Ob. The transaction results in an equal increase in both assets and liabilities Oc The transaction results in an equal increase in assets and decrease in equity Od. The transaction results in an equal increase in assets and decrease in liabilities Time left 1.05.09 Question 10 Not yet Assume that the business provided OMR 2,000 of services. The company received cash of OMR 1,500 from customers and remaining amount to be collected after two months. How the above transaction will atlect the different elements of financial statement? answered Marked out of 0.50 P Flag question O a. The transaction result in OMR 1500 decrease cash, OMR 500 increase in accounts payables and OMR 2000 increase in revenue O b. The transaction result in OMR 1500 increase in cash, OMR 500 increase in accounts receivables and OMR 2000 increase in revenue. OC None of the given options Od. The transaction result in OMR 1500 increase in cash, OMR 500 increase in accounts payables and OMR 2000 increase in revenue

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