Which of the following statements is true of the worksheet?
A)The Net Income is recorded in the income statement credit column.
B)The Net Income is recorded in the adjusted trial balance debit column.
C)The Net Income is recorded in the income statement debit column.
D)The Net Income is recorded in the balance sheet debit column.

Question

Quizplus · Accepted Answer

Net Income is recorded in the Income Statement debit column as it is a component of the Income Statement. It represents the company's total earnings or profits after deducting total expenses from total revenues.

Which of the Following Statements Is True of the Worksheet