If Ol' Fashioned Toys' Revenues are greater than its Expenses during the accounting period:
A) Assets will increase more than Liabilities.
B) Liabilities will increase more than Assets.
C) the business will incur a loss.
D) the business will earn a net income.

Question

Quizplus · Accepted Answer

When a company's revenues exceed its expenses, it results in a net income, indicating profitability for the accounting period.

If Ol' Fashioned Toys' Revenues Are Greater Than Its Expenses