After All of the Account Balances Have Been Extended to the Balance

question 196

Multiple Choice

After all of the account balances have been extended to the Balance Sheet columns of the work sheet, the totals of the Debit and Credit columns are $36,755 and $32,735, respectively. What is the amount of net income or net loss for the period?

• A) $4,020 of net income
• B) $36,755 of net loss
• C) $4,020 of net loss
• D) $32,735 of net income

---

Definitions:

Industrial Relations

The study and practice of managing the workforce, including the relationships between employers and employees, labor unions, and government agencies.

Operations Department

The division within an organization responsible for overseeing the day-to-day execution of the company's operational activities.

Workers' Compensation Board

A government agency responsible for overseeing and administering workers' compensation laws to provide financial and medical benefits to employees injured at work.

Job Injury

Physical harm or damage that occurs to an employee as a result of performing their work duties.