If Revenues Are Larger Than Expenses, the Resulting Net Income

question 76

Multiple Choice

If revenues are larger than expenses, the resulting net income would be recorded

• A) on the credit side of the income statement columns of the work sheet.
• B) on the debit side of the balance sheet columns of the work sheet.
• C) on the debit side of the income statement columns of the work sheet.
• D) none of the answers listed.

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Definitions:

Deal

An agreement or an arrangement, often in a business context, that specifies terms between parties for transactions, collaborations, or partnerships.

Entrepreneurs

Individuals who organize and operate businesses, taking on greater than normal financial risks in order to do so.

3 Fs

often refers to the informal investors in early-stage startups: friends, family, and fools, who provide initial capital.

Raise

The act of collecting or soliciting funds or resources, often for a business venture or project.