8. The increases to a company's resources that result when goods or services are provided to customers are called? A) Assets B) Liabilities C) Expenses San D) Revenues E) None of the above 9. What categories of cash flows are presented in a statement of cash flows? A) Operating and non-operating B) Receipts and disbursements C) Financial and non-financial D) Operating, investing, and financing E) None of the above 10. Marvin's Mechanical Repair Shop started the year with total assets of $60,000, total liabilities of $40,000, and retained earnings of $18,000. During the year, the business recorded $100,000 in auto repair revenues, $70,000 in expenses, and the company paid dividends of $15,000. The net income reported by Marvin's Mechanical Repair Shop for the year was A) $180,000 B) $ 40,000 C) $ 50,000 D) $ 30,000 E) None of the above 11. Cash collected on accounts receivable would produce what effect on the balance sheet? A) Increase liabilities and decrease equity B) Decrease liabilities and increase equity C) Increase assets and decrease assets o D) Decrease assets and decrease liabilities d 12. Which of the following decreases stockholders' equity? A) Purchasing equipment for cash B) Paying monthly rent in cash C) Issuing shares of stock D) Paying cash to settle an account payable 13. The term credit refers to: A) The left side of an account B) The right side of an account C) The side of an account on which decreases are recorded D) Both B and C 14. Which of the following accounts normally has a credit balance