Which of the Following Combinations Results Does Not Result in the Same

question 260

Multiple Choice

Which of the following combinations results does not result in the same amount of net income reported on the income statement?

• A)Total revenues of $80,000 and total expenses of $60,000.
• B)Total revenues of $170,000 and total expenses of $150,000.
• C)Total revenues of $60,000 and total expenses of $40,000.
• D)Total revenues of $70,000 and total expenses of $60,000.
• E)Total revenues of $40,000 and total expenses of $20,000.

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Definitions:

Accounting Systems

Frameworks used to collect, monitor, and interpret financial information of an organization or individual.

Chart Of Accounts

This is a listing of all the accounts in the general ledger, each account accompanied by a reference number.

Listing

The action of recording or including an item, such as a property or stock, for sale within a public marketplace or directory.

Account Numbers

Unique identifiers assigned to different accounts in a company's accounting system to organize and track financial transactions.