The Difference Between the Totals of the Debit and Credit

question 130

Multiple Choice

The difference between the totals of the debit and credit columns of the Adjusted Trial Balance columns on a work sheet

• A) is the amount of net income or loss
• B) indicates there is an error on the work sheet
• C) is the amount of retained earnings
• D) is the difference between revenue and expenses

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Definitions:

Management Process

A systematic approach to planning, organizing, leading, and controlling a company's activities to achieve objectives.

Continuous Improvement

An ongoing effort to improve products, services, or processes by making small, incremental improvements over time.

Directing

The process by which managers, given their assigned level of responsibilities, run day-to-day operations.

Management Process

A systematic approach to planning, organizing, leading, and controlling an organization's activities to achieve its objectives efficiently and effectively.