The Income Statement Debit Column Exceeds the Income Statement Credit

question 8

Multiple Choice

The Income Statement Debit column exceeds the Income Statement Credit column on a work sheet. This indicates

• A) a net income for the company.
• B) a net loss for the company.
• C) that mistakes were made in the preparation of the work sheet.
• D) the owner's Capital account increased during the year.
• E) the inventory increased during the year.

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