In Completing the Work Sheet,what Is the Reason for Adding

question 94

Multiple Choice

In completing the work sheet,what is the reason for adding the net income for the year to the Balance Sheet Credit column?

• A) Owner's equity is not up-to-date.
• B) Cash is not up-to-date.
• C) Owner's withdrawal is not up-to-date.
• D) Sales is not up-to-date.

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Definitions:

Job Evaluation

Is a method for determining the relative value or worth of a job to the organization so that individuals who perform that job can be compensated adequately and appropriately.

Social Security

Officially the Old Age Survivors and Disability Insurance Program, another mandated program, was originally designed to provide limited income to retired individuals to supplement their personal savings, private pensions, part-time work, and so forth.

Full Benefits

A comprehensive benefits package offered to employees, which may include health insurance, retirement plans, vacation days, and other perks in addition to salary.

Workers' Compensation

A form of insurance providing wage replacement and medical benefits to employees injured in the course of employment.