The Amount of Net Income Will Appear on the Debit

question 88

Multiple Choice

The amount of net income will appear on the debit side of the Income Statement columns on a work sheet,

• A) if total revenue exceeded total expenses for the period.
• B) if withdrawals have been made during the period.
• C) if total assets exceeded total liabilities for the period.
• D) if total expenses exceeded total revenue for the period.
• E) if net income exceeds the owner's withdrawals.

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Definitions:

Knowledge

Information, understanding, or skills obtained through education or experience; the theoretical or practical understanding of a subject.

Behaviour Modification

The use of empirically demonstrated behavior change techniques to improve behavior, such as altering an individual's behaviors and reactions to stimuli through positive and negative reinforcement.

Reinforcement

In psychology, a concept where a behavior is encouraged or strengthened by a consequence that follows it.

Modelling

The process of demonstrating a particular behavior or skill that others are expected to learn or emulate.