Business, 24.01.2020 04:31 leslie0296

Which of the statements below indicates that a company earned a net income for the period?
a. the sum of the credits exceeds the sum of the debits in the balance sheet columns on the work sheet.
b. the sum of the credits exceeds the sum of the debits in the income statement columns on the work sheet.
c. the sum of the debits exceeds the sum of the credits in the income statement columns on the work sheet.
d. cash inflows exceeded cash outflows

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The statement that indicates that a company earned a net income for the period is B. The sum of the credits exceeds the sum of the debits in the income statement columns on the worksheet.

Net income simply means the deduction of the expenses that a company incurs from the revenue that the company makes.

Net income is simply used to know how profitable a business is. Therefore, when the sum of the credits exceeds the sum of the debits in the income statement columns on the worksheet, it shows a net income.

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Answer from: cassidyschmuzler

The correct answer is letter "B": The sum of the credits exceeds the sum of the debits in the Income Statement columns on the work sheet.

Explanation:

Net Income, bottom line, or total earnings or profits is a measure of how profitable the company is over a period of time. To find net income, we should take a look at the company's total revenue to subtract any expenses associated with the company's doing business. After deducting taxes from that amount we will have the company's net income.

In the case in the income statement credits exceed debits, the net income of a company is likely to be positive.

Answer from: Quest

$527.7.if the following was the question $527.7 is the answer.students who are trying to raise funds have an agreement with a local pizza chain. the chain has agreed to sell them pizzas at a discount, which the students can then resell to families in the local community for a profit. it is expected that of the 500 families in the community, at most 70% will buy pizza. based on a survey of their personal preferences, the students believe that they should order no more than 120 cheese pizzas, no more than 150 pepperoni pizzas, and no more than 100 vegetarian pizzas. they also want to make sure that at least 20% of the total pizzas are cheese and at least 50% of the pizzas are pepperoni. they make a profit of $1.45, $1.75, and $1.98, respectively, for each cheese, pepperoni, and vegetarian pizza they resell. how many pizzas of each type should they buy?

Answer from: Quest

1) d 2) d 3) c 4) d 5) a 6) c 7) a 8) b 9) a 10) a 11) d 12) c 13) c 14) d 15) a 16) a 17) d 18) c 19) c 20) c

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Which of the statements below indicates that a company earned a net income for the period?
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