Which of the Following Statements Is TRUE If the Income

question 151

Multiple Choice

Which of the following statements is TRUE if the income statement credit column exceeds the income statement debit column on a worksheet?

• A) The company made a net profit.
• B) The company incurred a net loss.
• C) The Owner, Capital account decreased during the period.
• D) An error was made.

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Definitions:

Carbohydrates

Organic compounds consisting of carbon, hydrogen, and oxygen, usually in the ratio 1:2:1, serving as a major energy source for the body.

Actin

A protein that forms (together with myosin) the contractile filaments of muscle cells and is also involved in motion in other types of cells.

Myosin

A motor protein known for its role in muscle contraction and movement in other types of cells, interacting with actin.

Proteins

Large molecules composed of one or more chains of amino acids in a specific order, determined by the base sequence of nucleotides in the DNA coding for the protein, serving a vast array of functions within organisms.