Which of the Following Equations Is Correct

question 8

Multiple Choice

Which of the following equations is correct?

• A) Using balance sheet accounts:
• Sum of debit balances - Sum of credit balances = Net income
• B) Using trial balance accounts:
• Sum of debit balances = Sum of credit balances
• C) Using income statement accounts:
• Sum of credit balances - Sum of debit balances = Net income
• D) All of these.

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Definitions:

Spacer Ring

A mechanical component used to fill the gap or maintain a specified distance between two parts in an assembly.

Dynamic Balancing

The process of balancing parts or assemblies while they are in motion, aiming to distribute mass evenly to avoid vibrations.

Fuel Economy

A measure of how far a vehicle can travel per unit of fuel, generally expressed in miles per gallon (mpg) or liters per 100 kilometers (l/100km).