Multiple Choice
The Income Statement columns in the end-of-period spreadsheet show that debits are equal to $55,800 and credits are $77,520. What does this information mean to the accountant?
A) net income of $21,720
B) net loss of $21,720
C) the accounts are out of balance, indicating an error has been made
D) the accounts have not been updated
Correct Answer:
Verified
Correct Answer:
Verified
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