After All of the Account Balances Have Been Extended to the Balance

question 46

Multiple Choice

After all of the account balances have been extended to the Balance Sheet columns of the work sheet,the totals of the debit and credit columns show debits of $37,686 and the credits of $41,101.This indicates that

• A)neither net income or loss can be calculated because it is found on the income statement
• B)the company has a net loss of $3,415 for the period
• C)the company has a net income of $3,415 for the period
• D)the amounts are out of balance and need to be corrected

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Definitions:

Feasibility Reports

Documents that assess the practicality of a proposed plan, project, or system by analyzing its technical, economic, legal, and scheduling aspects.

Failure Analysis

The systematic investigation of a process, product, or system failure to identify the causes and suggest improvements.

Justification Reports

Documents that provide reasons and evidence to support particular decisions or proposals.

Feasibility Reports

Documents that evaluate the practicality and viability of a proposed project or idea.