Select the Incorrect Statement About Worksheets

question 80

Multiple Choice

Select the incorrect statement about worksheets.

• A)Worksheets facilitate the preparation of financial statements.
• B)The income summary account is used to determine net income for the period.
• C)Two trial balances appear on the worksheet.
• D)The income statement section precedes the retained earnings statement section.

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Definitions:

Return On Investment

A criterion for measuring the success or financial gain of an investment, by calculating the ratio of net profit to the investment's price.

Margin

The difference between the selling price of a product and the cost associated with producing it.

Margin

The difference between the selling price of a product or service and its cost, usually expressed as a percentage of the selling price.

Combined Return On Investment

A measure that evaluates the efficiency of an investment or compares the efficiency of several different investments.