Which of the Following Statements Is Not Correct

question 71

Multiple Choice

Which of the following statements is not correct?

• A) The difference between the total of the Income Statement Debit column and the total of the Income Statement Credit column of the worksheet represents either net income or net loss.
• B) Net income is recorded on the worksheet in the Income Statement Debit column and the Balance Sheet Credit column.
• C) Only the balances of accounts that are affected by adjustments must be recalculated before they are recorded in the Adjusted Trial Balance section of the worksheet.
• D) If an account has a debit balance in the Trial Balance section of the worksheet and there is a credit entry in the Adjustments section,the credit amount is added when computing the balance to be shown in the Adjusted Trial Balance section of the worksheet.