In Which of the Columns of the Worksheet Would Net

question 80

Multiple Choice

In which of the columns of the worksheet would Net Income be found?

• A)Under the trial balance credit column, the adjusted trial balance credit column and the balance sheet credit column
• B)Under the trial balance debit column, the adjusted trial balance debit column and the balance sheet debit column
• C)Under the balance sheet debit column and the income statement credit column
• D)Under the balance sheet credit column and the income statement debit column

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Definitions:

Net Income

The profit of a company after all expenses, taxes, and deductions have been subtracted from total revenue.

Debt Ratio

A financial ratio that measures the proportion of a company's assets that are financed by debt.

Assets

Economic resources owned or controlled by an individual or entity that are expected to produce value or benefit in the future.

EBIT

Earnings Before Interest and Taxes, a measure of a firm's profit that includes all expenses except interest and income tax expenses.