If Total Revenues Are the Same as Total Expenses, Then

question 85

Multiple Choice

If total revenues are the same as total expenses, then a company has which of the following?

• A) a loss.
• B) a profit.
• C) neither a profit nor a loss.
• D) a decrease in shareholders' equity.

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Definitions:

Onscreen Form

An electronic form displayed on a computer screen that allows a user to enter or modify data.

Make Deposits Window

A feature in accounting software where users can record and manage the deposit of funds into bank accounts.

Journal Entry

A record of a business transaction in an accounting system that affects at least two accounts, one debit and one credit.

Debits Checking

The process of recording or deducting sums of money from a checking account, based on transactions made.