If the Total Debit Column Exceeds the Total Credit Column

question 22

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:

Excessive Amounts

Quantities that exceed what is normal, necessary, or reasonable.

Metabolism

The complex of life-sustaining chemical reactions in organisms, involving the processing or conversion of substances.

Metabolic Processes

The chemical reactions that occur within a living organism in order to maintain life, including digestion and the production of energy.

BMR

Basal metabolic rate, which is the rate of energy expenditure per unit time by endothermic animals at rest.