Multiple Choice
Which of the following statements is TRUE about the worksheet?
A) Profit is recorded in the Income statement credit column.
B) Profit is recorded in the Income statement debit column.
C) Profit is recorded in the adjusted trial balance debit column.
D) Profit is recorded in the balance sheet debit column.
Correct Answer:
Verified
Correct Answer:
Verified
Q7: Capital is a temporary account.
Q22: Net profit (loss)is the difference between the
Q60: Asset and liability accounts are closed to
Q61: Beginning balance in Capital is $10 000.
Q64: Please refer to the partially completed worksheet
Q65: Which of the following accounts would appear
Q68: A balance sheet that has the assets
Q69: A two- year loan payable would be
Q70: Which of the following is considered a
Q144: Revenue accounts and expense accounts are closed