Multiple Choice
Which of the statements below indicates that a company earned a net income for the period?
A) The sum of the credits exceeds the sum of the debits in the Balance Sheet columns on the end-of-period spreadsheet.
B) The sum of the credits exceeds the sum of the debits in the Income Statement columns on the end-of-period spreadsheet.
C) The sum of the debits exceeds the sum of the credits in the Income Statement columns on the end-of-period spreadsheet.
D) Cash inflows exceed cash outflows.
Correct Answer:
Verified
Correct Answer:
Verified
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