Examlex
Which of the following about paragraphs is true?
Trial Balance Columns
Sections in a trial balance where debit and credit account balances are listed side by side to ensure they are equal.
Adjusted Trial Balance Columns
This refers to the columns in a trial balance that have been adjusted for entries made in the general journal at the end of an accounting period before the preparation of financial statements.
Net Income
The total profit of a company after all expenses, taxes, and costs have been subtracted from total revenue; also known as the bottom line.
Income Statement Credit Column
The section of the income statement where credit entries, typically revenues and gains, are recorded.
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