Multiple Choice
Which of the following is TRUE after net income has been entered in the appropriate balance sheet column?
A) Total debits in the Balance Sheet columns equals total credits.
B) Total credits in the Balance Sheet columns exceed total debits by the amount of net income.
C) Total debits in the Balance Sheet columns exceed total credits by the amount of net income.
D) It is impossible to determine with the information provided.
Correct Answer:
Verified
Correct Answer:
Verified
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