Which of the following statements is true if the income statement credit column exceeds the income statement debit column on a worksheet?
A)The company has a net income.
B)The company has a net loss.
C)The capital account decreased during the period.
D)The total liabilities exceed total assets.

Question

Quizplus · Accepted Answer

When the credit column exceeds the debit column on an income statement, it means that the company has earned more revenue than it incurred expenses, resulting in a net income.

Which of the Following Statements Is True If the Income