Which of the Following Amounts Appears in Both the Income

question 118

Multiple Choice

Which of the following amounts appears in both the Income Statement debit column and the Balance Sheet credit column of a worksheet?

• A)Net income.
• B)Net loss.
• C)Dividends.
• D)Retained earnings.

---

Definitions:

Allocating Cost

The process of assigning costs to various cost objects such as products, services, or departments for accounting purposes.

Inventory Accounting

A method of accounting that deals with valuing and accounting for changes in inventoried assets, impacting how businesses report their cost of goods sold and value of inventory in financial statements.

Just-In-Time Systems

Inventory management systems that produce or provide items exactly when needed, minimizing inventory costs.

Stock-Outs

Stock-outs occur when an item is no longer available for sale, typically because inventory levels have been depleted.