In Which of the Columns of a Worksheet Would a Net

question 68

Multiple Choice

In which of the columns of a worksheet would a net loss be found?

• A) in the balance sheet credit column and the income statement debit column
• B) in the balance sheet debit column and the income statement credit column
• C) in the unadjusted trial balance credit column, the adjusted trial balance credit column, and the balance sheet credit column
• D) in the unadjusted trial balance debit column, the adjusted trial balance debit column, and the balance sheet debit column

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Definitions:

Financial Assets

Stocks and bonds. More generally a document giving its owner a claim to certain future cash flows. Stocks base that claim on ownership (equity), while bonds base it on debt. Also called a security.

Future Cash Flows

Projected financial gains or losses for a specific period in the future.

Financial Advisors

Professionals who help individuals manage their finances by providing advice on money issues such as investments, insurance, mortgages, college savings, estate planning, taxes, and retirement.

Collateral

Assets that a borrower offers to a lender as security for a loan, which can be seized if the loan is not repaid according to the agreed upon terms.