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

question 111

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 show debits of $37,686 and credits of $41,101. This indicates that

• A) neither net income nor loss can be calculated because it is found on the income statement
• B) the company has a net loss of $3,415 for the period
• C) the company has a net income of $3,415 for the period
• D) the amounts are out of balance and need to be corrected

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Definitions:

Minority Workers

Individuals from racially, ethnically, or culturally distinct groups who are employed within a workforce predominantly composed of a different majority group.

Cultural Diversity

The existence of a variety of cultural or ethnic groups within a society, and the acknowledgment, appreciation, and promotion of this diversity.

Pluralism

The recognition and affirmation of diversity within a political body, which permits the peaceful coexistence of different interests, convictions, and lifestyles.

Multiculturalism

Involves pluralism and respect for diversity.