When Betty Tran prepared a personal income statement, the remainder or residual value is called
A) net asset total.
B) total assets.
C) total revenues.
D) retained earnings.
E) cash surplus.

Question

Quizplus · Accepted Answer

The remainder or residual value in a personal income statement, after accounting for all income and expenses, is referred to as a cash surplus. This indicates the amount of money left over after all expenses have been paid.

When Betty Tran Prepared a Personal Income Statement, the Remainder