Borrowed money from a bank

A) Increase assets, increase liabilities
B) Increase liabilities, decrease owner's equity
C) Increase assets, increase owner's equity
D) No effect
E) Decrease assets, decrease liabilities
F) Decrease assets, decrease owner's equity

Borrowed Money

Funds that an individual or entity has received from another party under the condition that it is to be repaid, typically with interest, at a later date.

Accounting Equation

The fundamental equation of double-entry bookkeeping: Assets = Liabilities + Owners' Equity, depicting a company's financial position at a specific point in time.

Bank

A financial institution licensed to receive deposits, offer loans, and provide various financial services to individuals and businesses.