If the Total Debit Column Exceeds the Total Credit Column

question 211

Multiple Choice

If the total debit column exceeds the total credit column of the income statement columns on a worksheet then the company has

• A) earned net income for the period.
• B) an error because debits do not equal credits.
• C) suffered a net loss for the period.
• D) to make an adjusting entry.

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Definitions:

Ethical Dilemma

is a situation in which a decision must be made between two or more morally acceptable courses of action that are in conflict.

Cultural Relativism

Understanding a person's behavior and convictions should be done by considering them within the framework of their unique cultural context.

Ethical Behaviour

The practice of conducting oneself according to recognized moral principles, ensuring actions are right and good.

Cultural Context

The social, religious, economic, and political conditions that affect the interpretation and implementation of ideas, behaviors, and communications.