Question: Test Bank 8. When you pay a bill using a debit card, the bank account _ while the expense account A. decreases; increases B. increases;

Test Bank 8. When you pay a bill using a debit card, the bank account _ while the expense account A. decreases; increases B. increases; remains the same C. remains the same; decreases D. increases; decreases 9. What is the equity value for Craig's Design and Landscaping Service? Craig's Design and Landscaping Services BALANCE SHEET TOTAL ASSETS - Current Access Bank Accounts $2,001.00 Accounts Receivable $5,281.52 * Other Current Assets $2,658.77 Total Current Assets $9.941.29 Fixed Assets $13,495.00 TOTAL ASSETS $23,436.29 LIABILITIES AND EQUITY Liabilities $31.131.33 A. -$7,695.04 B. $2,001.00 C. $54,567.62 D. $31,131.33 10. Which statement about deleted and voided transactions is TRUE? A. Both are recorded and become part of the overall records. B. Both are removed from the overall records. C. Deleted transactions are removed; voided transactions are retained with zero values. D. Voided transactions are removed; deleted transactions are retained with zero values. 11. What deposit is customer related? A. An insurance overpayment refund B. Loan proceeds C. Purchase rebates D. An invoice payment QuickBooks Online Page 3 of 6

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