Which of the Following Statements Is Not Correct

question 12

Multiple Choice

Which of the following statements is not correct?

• A)If an account has a debit balance in the Trial Balance section of the worksheet and there is a credit entry in the Adjustments section, the credit amount is added when computing the balance to be shown in the Adjusted Trial Balance section of the worksheet.
• B)Net loss is recorded on the worksheet in the Income Statement Credit column and the Balance Sheet Debit column.
• C)Net income is recorded on the worksheet in the Income Statement Debit column and the Balance Sheet Credit column.
• D)The difference between the total of the Income Statement Debit column and the total of the Income Statement Credit column of the worksheet represents either net income or net loss.

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Definitions:

Organisation's Product

The result of a company's efforts, whether it's a tangible good, service, or digital offering, created to fulfill customer needs.

Small Work Group

A limited number of individuals assembled to perform tasks or achieve specific goals, characterized by close interaction and collaboration.

Non-Managerial Workers

Employees within an organization who are not in charge of supervising others and focus on executing tasks rather than managing.

Team Leader

A team leader is someone who provides guidance, instruction, direction, and leadership to a group for the purpose of achieving a key result or group of aligned results.