In Which of the Columns of the Worksheet Would Net

question 205

Multiple Choice

In which of the columns of the worksheet would Net Income be found?

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

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Definitions:

Assigning

The process of allocating or appointing a particular task, responsibility, or resource to a specific entity or individual.

Cash Inflows

Money or equivalent value received by an entity, typically as a result of its business operations, investments, or financing activities.

Financial Statements

Records that outline the financial activities and condition of a business, government, or individual. These commonly include the balance sheet, income statement, and statement of cash flows.

Certificates of Deposit

Fixed-term financial instruments issued by banks that pay interest until maturity, when they can be redeemed for the original amount plus accrued interest.