The Amount of Profit (Or Loss) Will Appear on the Debit

question 50

Multiple Choice

The amount of profit (or loss) will appear on the debit side of the Income Statement columns in a worksheet if:

• A) Revenue exceeds total expenses for the period.
• B) The trial balance is out of balance.
• C) Dividends are more than the income or loss for the period.
• D) There is a loss for the period.

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Definitions:

Fixation

An obsessive focus or attachment to an object, concept, or person, often to the exclusion of other considerations.

Anxiety

Anxiety is a feeling of fear, dread, and uneasiness that may occur as a reaction to stress, and can impact daily functioning if too intense or persistent.

Defence Mechanisms

Psychological strategies brought into play by the unconscious mind to manipulate, deny, or distort reality in order to defend against feelings of anxiety and unacceptable impulses.

Unpleasant Emotions

Emotions that cause discomfort or distress, such as anger, sadness, fear, or jealousy.