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If the Balance Sheet and Statement of Retained Earnings Columns

Question 319

Multiple Choice

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


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

Correct Answer:

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