If revenues are larger than expenses, the resulting net income would be recorded
A) on the credit side of the income statement columns of the work sheet.
B) on the debit side of the balance sheet columns of the work sheet.
C) on the debit side of the income statement columns of the work sheet.
D) none of the answers listed.

Question

Quizplus · Accepted Answer

Net income is a credit balance and would be recorded on the opposite side, which is the debit side, of the income statement columns of the work sheet.

If Revenues Are Larger Than Expenses, the Resulting Net Income