Author Question: Each manager, regardless of level, is in charge of a responsibility center. Indicate whether this ... (Read 27 times)

lindiwe · **on:** Jul 5, 2018

Each manager, regardless of level, is in charge of a responsibility center.

Indicate whether this statement is true or false.

Question 2

After all of the account balances have been extended to the Balance Sheet columns of the work sheet, the totals of the debit and credit columns show debits of 37,686 and the credits of 41,101 . This indicates that
a. neither net income or loss can be calculated because it is found on the income statement
b. the company has a net loss of 3,415 for the period
c. the company has a net income of 3,415 for the period
d. the amounts are out of balance and need to be corrected