On a work sheet, the adjusted balances of revenues and expenses are sorted to the Income Statement columns of the work sheet.

Name: On a work sheet, the adjusted balances of revenues and expenses are sorted to the Income Statement columns of the work sheet.
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Quizplus · Accepted Answer

This is true. The Income Statement columns of the work sheet are where the adjusted balances of revenues and expenses are transferred to calculate the net income/loss for the period.

On a Work Sheet, the Adjusted Balances of Revenues and Expenses