Author Question: The Income Statement Debit column exceeds the Income Statement Credit column on a work sheet. This ... (Read 137 times)

nenivikky · **on:** Jul 6, 2018

The Income Statement Debit column exceeds the Income Statement Credit column on a work sheet. This indicates
a. a net income for the company.
b. a net loss for the company.
c. that mistakes were made in the preparation of the work sheet.
d. the owner's Capital account increased during the year.
e. the inventory increased during the year.

Question 2

The government-wide financial statements include all of the following except

a. a statement of net assets.
b. a statement of activities.
c. a statement of cash flows.
d. All of the above are required government-wide financial statements