The Income Summary Account Shows Debits of $17,000 and Credits

question 45

Multiple Choice

The Income Summary account shows debits of $17,000 and credits of $12,000. This results in a

• A) net income of $29,000.
• B) net loss of $29,000.
• C) net income of $5,000.
• D) net loss of $5,000.

---

Definitions:

Rebound

The release of stored energy from a spring. When a wheel and tire move downward over uneven road conditions it is called rebound.

Deflection

The degree to which a structural element is displaced under a load.

MacPherson

A type of suspension system that features a single strut and coil spring to support the vehicle's weight and allow wheel movement.

Short/Long Arm

A suspension design where control arms of different lengths are used, affecting vehicle handling and stability.