If the total debits exceed total credits in the statement of financial position columns of the worksheet, equity
A) will increase because net income has occurred.
B) will decrease because a net loss has occurred.
C) is in error because a mistake has occurred.
D) will not be affected.

Question

Quizplus · Accepted Answer

The Answer of If the total debits exceed total credits in the statement of financial position columns of the worksheet, equity
A) will increase because net income has occurred.
B) will decrease because a net loss has occurred.
C) is in error because a mistake has occurred.
D) will not be affected.

If the Total Debits Exceed Total Credits in the Statement