Multiple Choice
The Income Statement columns in the work sheet show that debits total $55,800 and credits total $62,705. What does this information mean to the accountant?
A) Net income is equal to $6,905.
B) Net loss is equal to $6,905.
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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