If the Balance Sheet and Statement of Changes in Equity

question 59

Multiple Choice

If the Balance Sheet and Statement of Changes in Equity columns of a work sheet fail to balance when the amount of the net income is added to the Balance Sheet and Statement of Changes in Equity Credit column, the cause could be:

• A) An expense amount entered in the Balance Sheet and Statement of Changes in Equity Debit column.
• B) A revenue amount entered in the Balance Sheet and Statement of Changes in Equity Credit column.
• C) An asset amount entered in the Income Statement and Statement of Changes in Equity Debit column.
• D) A liability amount entered in the Income Statement and Statement of Changes in Equity Credit column.
• E) An expense amount entered in the Balance Sheet and Statement of Changes in Equity Credit column.

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Definitions:

Material

Refers to the physical substances from which things can be made, including any component used in the manufacture or construction of goods.

REM

Rapid Eye Movement, a phase of sleep characterized by fast and random movements of the eyes, often associated with vivid dreaming.

Postural Muscles

Muscles that help maintain posture and balance, typically by resisting gravity.

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The number of breaths a person takes per minute, an important parameter in assessing respiratory health or effort.