36. In the preparation of theworksheet, if the total credits aregreater than total debits under thebalance sheet column: *O A. There is net income.B. There is net loss.C. Income is understated.D. Expense is overstated.

Answer: In preparation of worksheet, the balance sheet column is completed with adjusting balances

Answered: 36. In the preparation of the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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36. In the preparation of the worksheet, if the total credits are greater than total debits under the balance sheet column: *