Net Income Is Recorded on the Worksheet Under The

question 250

Multiple Choice

Net income is recorded on the worksheet under the:

• A)debit column of the adjusted trial balance and the credit column of retained earnings.
• B)debit column of the income statement and the credit column of the balance sheet.
• C)credit column of the adjusted trial balance and the debit column of retained earnings.
• D)credit column of the income statement and the debit column of the balance sheet.

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Definitions:

Erasable Pen

A writing instrument designed to allow the user to erase the ink and correct mistakes.

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Arranged in the order that letters appear in the alphabet.

Microsoft Excel

A spreadsheet program developed by Microsoft, used for data organization, analysis, and storage.

Accounting

The systematic process of recording, analyzing, and reporting financial transactions of a business.