Which of the Following Statements Is True If the Income

question 166

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's capital account decreased during the period.
• D)An error was made.

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Definitions:

y-Intercept

The point where a line crosses the y-axis in a graph, representing the value of the dependent variable when all independent variables are zero.

Slope

In a linear equation, the coefficient that represents the rate of change of the dependent variable with respect to the independent variable.

Regression Slope Coefficient

A parameter in regression analysis that represents the change in the dependent variable for a one-unit change in an independent variable.

Simple Linear Regression

A statistical method to model the relationship between two variables by fitting a linear equation to observed data.