Which of the Following Statements Is TRUE About the Worksheet

question 66

Multiple Choice

Which of the following statements is TRUE about the worksheet?

• A)Profit is recorded in the Income statement credit column.
• B)Profit is recorded in the Income statement debit column.
• C)Profit is recorded in the adjusted trial balance debit column.
• D)Profit is recorded in the balance sheet debit column.

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Definitions:

Premiums

Items or services received for free or at a low cost as an incentive to purchase a product or service, or an additional cost for higher-quality services or products.

Deals

Offers or discounts provided by businesses on products or services to attract customers and increase sales.

Loyalty Program

A rewards program offered by a company to customers who frequently make purchases to encourage continuous buying.

Sweepstakes

A promotional drawing in which prizes are given away at no charge to the participants.