Where Does Profit Appear on a Worksheet

question 51

Multiple Choice

Where does Profit appear on a worksheet?

• A)Profit appears only in the Income statement debit column.
• B)Profit appears in the Income statement credit column and in the balance sheet debit column.
• C)Profit appears in the balance sheet credit column and in the Income statement debit column.
• D)Profit appears only in the balance sheet credit column.

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Definitions:

Big Picture

Understanding of the broader, overall perspective or situation rather than just focusing on details.

Insight

An ability to know what information is relevant, to find connections between the old and the new, to combine facts that are unrelated, and to see the “big picture”

Flow Experience

A state of complete immersion and engagement in an activity, often leading to enhanced performance and personal fulfillment.

Response to Loss

The reactions or actions taken by an individual, group, or organization after experiencing a defeat or failure.