In the Process of Completing a Work Sheet,the Accountant Determines

question 253

Multiple Choice

In the process of completing a work sheet,the accountant determines that the Income Statement debit column totals $83,000,while the Income Statement credit column totals $65,000.To enter net income (or net loss) for the period into the work sheet would require an entry to

• A)the Adjustments debit column and the Adjustments credit column.
• B)the Unadjusted Trial Balance debit column and the Adjustments credit column.
• C)it is not practical to enter Net Income (or Net Loss)on the work sheet.
• D)the Balance Sheet & Statement of Retained Earnings debit column and the Income Statement credit column.
• E)the Income Statement debit column and the Balance Sheet & Statement of Retained Earnings credit column.

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Definitions:

Achievement Behaviors

involve actions aimed at excelling, surpassing goals, and performing at high standards to achieve success.

Perform Their Very Best

This phrase emphasizes the act of individuals giving their utmost effort and achieving the highest level of performance in their tasks or roles.

External Locus Of Control

The belief that one's achievements or failures result from external factors, forces, or luck rather than one's own actions or efforts.

Organization

An arranged group of individuals aimed towards achieving particular goals and objectives, often structured in a specific way to facilitate coordination and efficiency.