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 made a net profit.
B) The company incurred a net loss.
C) The retained earnings account decreased during the period.
D) An error was made.

Question

Quizplus · Accepted Answer

If the income statement credit column exceeds the income statement debit column, it means that the company made more revenue than expenses during the period, resulting in a net profit.

Which of the Following Statements Is True If the Income