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Author Question: If the total credits exceed total debits in the Income Statement columns of the work sheet, the ... (Read 36 times)

ec501234

  • Hero Member
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  • Posts: 573
on: Jul 5, 2018
If the total credits exceed total debits in the Income Statement columns of the work sheet, the business has had net income.
 a. True
   b. False
   Indicate whether the statement is true or false

Question 2

On what basis are investments valued in the financial statements of a Pension Trust Fund?
 
  a. at cost
  b. at the lower of cost or market value of each individual security
  c. at fair value
  d. at actuarial value


ecabral0

  • Sr. Member
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  • Posts: 310
Reply #1 on: Jul 5, 2018
Answer to Question 1

False

Answer to Question 2

c


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