The Income Statement and Statement of Financial Position Columns of Reed

question 92

Multiple Choice

The income statement and statement of financial position columns of Reed Company's worksheet reflect the following totals:
$\begin{array} { l }&\text { Income Statement }&&\text { Statement of financial position }\\&Dr&Cr&Dr&Cr\\ \text {Totals } &\$58,000&\$48,000&\$34,000&\$44,000\\\end{array}$
To enter the net income (or loss) for the period into the above worksheet requires an entry to the

• A) income statement debit column and the statement of financial position credit column.
• B) income statement credit column and the statement of financial position debit column.
• C) income statement debit column and the income statement credit column.
• D) statement of financial position debit column and the statement of financial position credit column.

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Definitions:

External Change Agents

Professionals from outside an organization who are brought in to facilitate change and offer unbiased perspectives on challenges.

Advantages And Disadvantages

The positive and negative aspects of a particular choice, situation, or action that need to be considered when making a decision.

Fear Of Failure

The apprehension or anxiety of failing to achieve a goal or meet a standard, which can influence behavior and decision-making.

Resisting Change

The reluctance or refusal to adapt to new procedures, processes, or changes within an organization or environment.