On the worksheet, the difference between the balance sheet debit column and the balance sheet credit column represents the net income or net loss.

Question

Quizplus · Accepted Answer

The difference between the balance sheet debit column and the balance sheet credit column represents the net income or net loss because the balance sheet must always balance. If the debit column is greater than the credit column, then the business has a net income. If the credit column is greater than the debit column, then the business has a net loss.

On the Worksheet, the Difference Between the Balance Sheet Debit