The income statement columns on the worksheet are not equal because:
A) a mistake has been made in the adjustments section.
B) the columns have not been added up correctly.
C) the unadjusted trial balance was incorrect.
D) the difference is the profit or loss for the period.

Question

Quizplus · Accepted Answer

The difference between the income statement columns on the worksheet represents the profit or loss for the period, which is why they are not equal. A and B are incorrect as they suggest errors rather than a deliberate difference. C may be a possibility, but it is not the most likely explanation given the limited information provided.

The Income Statement Columns on the Worksheet Are Not Equal