The Amount of Net Income Will Appear on the Debit

question 15

Multiple Choice

The amount of net income will appear on the debit side of the Income Statement columns in a worksheet if:

• A)Revenue exceeds total expenses for the period.
• B)The trial balance is out of balance.
• C)Dividends are more than the income or loss for the period.
• D)There is a net loss for the period.

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Definitions:

RMS

Root Mean Square, a statistical measure of the magnitude of a varying quantity, often used to compute the effective value of an alternating current or voltage.

Apparent

Refers to the apparent power in an AC circuit, combining both the real (true) power and reactive power, measured in volt-amperes (VA).

Inductive

Pertaining to the property of inductance, where a change in electric current through a conductor induces an electromotive force in both the conductor itself and any nearby conductors.

True

In alignment with reality or fact; not false.