Which of the Statements Below Indicates That a Company Earned

question 142

Multiple Choice

Which of the statements below indicates that a company earned a net income for the period?

• A) The sum of the credits exceeds the sum of the debits in the Balance Sheet columns on the end-of-period spreadsheet.
• B) The sum of the credits exceeds the sum of the debits in the Income Statement columns on the end-of-period spreadsheet.
• C) The sum of the debits exceeds the sum of the credits in the Income Statement columns on the end-of-period spreadsheet.
• D) Cash inflows exceed cash outflows.

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Definitions:

Continuity-Discontinuity Controversy

A debate in developmental psychology regarding whether human development progresses smoothly and gradually (continuity) or through distinct stages (discontinuity).

Cohort Effect

Differences between age groups that arise not necessarily from aging but from the unique social and environmental influences affecting those groups during their developmental periods.

Time Lag

The delay between the initiation of an action or process and its effect or outcome.

Standardized Test

A test in which an individual’s score is compared to the scores of a group of similar individuals.