After All of the Account Balances Have Been Extended to the Balance

question 42

Multiple Choice

After all of the account balances have been extended to the Balance Sheet columns of the end-of-period spreadsheet, the totals of the Debit and Credit columns are $36,755 and $32,735, respectively. What is the amount of net income or net loss for the period?

• A) $4,020 net income
• B) $36,755 net loss
• C) $4,020 net loss
• D) $32,735 net income

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Definitions:

Burst

A sudden break or rupture, typically referring to pipes, balloons, or vessels under pressure.

Electrical Signals

Pulses of electric current or electromagnetic fields that are used for communication between various parts of a system, especially within biological organisms and electronic devices.

Afferent Nerves

Sensory nerves that are responsible for detecting sensory information from the environment or even from inside the body and taking it to the CNS for interpretation.

Efferent Nerves

Nerves that carry signals away from the central nervous system to the peripheral effectors like muscles and glands.