It Is Possible to Determine the Net Income or Loss

Multiple Choice

It is possible to determine the net income or loss for the period by:

A) taking adjusted trial balance amounts and subtracting expenses from revenues.
B) looking at the bottom line on the Income Statement.
C) taking post-closing trial balance amounts and subtracting expenses from revenues.
D) both A and B, which describe correct ways to determine the net income or loss for the period.