n) For each transaction recorded in an accounting system, the basic equation that must be maintained at all times is A) Assets - Liabilities. B) Revenues = Expenses + Dividends. C) Cash Inereases - Cash Decreases. o) Assets = Liabilities + Stockholders' Equity, 8) Consider the following account balances of the Shattuck Law Firm at the end of the yeat: How many of these accounts would appear in Shattuck's year-end balanee sheet? A) Two B) Three C) Five D) Four 9) Which of the following is an operating activity? A) Paying dividends B) Paying electricity bills for the month C) Issuing common stock D) Borrowing cash from a bank to acquire a building 10) Childers Service Company provides services to customers totaling $3,400, for which it billed the customers. How would the transaction be recorded? A) Debit Accounts Receivable $3,400, credit Service Revenue $3,400 B) Debit Accounts Receivable $3,400, credit Cash $3,400 C) Debit Service Revenue $3,400, credit Accounts Receivable $3,400 D) Debit Cash $3,400, credit Service Revenue $3,400