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 $36,678 and the credits of $41,101. This indicates that

• A) neither net income or loss can be calculated because it is found on the income statement
• B) the company has a net loss of $4,423 for the period
• C) the company has a net income of $4,423 for the period
• D) The amounts are out of balance and need to be corrected

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Definitions:

Group Stage Development

The theory that describes the progression of groups through various phases, including forming, storming, norming, performing, and adjourning.

Closed Groups

Groups that restrict membership and do not allow new members to join easily, often requiring certain criteria or invitations for membership.

Open Ended Groups

A type of group setup in therapy or support settings that allows members to join or leave the group at any time, without a predetermined end date.

Treatment Group

A group of individuals in an experimental research study that receives the intervention or treatment under investigation.