Question 3 Net Income occurs when O revenues and gains equal expenses and losses O revenues and gains are greater than expenses and losses revenues and gains are less expenses and losses Ototal assets are greater than total liabilities Liabilities are generally classified on a balance sheet as small liabilities and large liabilities. present liabilities and future liabilities. tangible liabilities and intangible liabilities. current liabilities and long-term liabilities The adjusting process that occurs at the end of the accounting period may apply to which of the following categories of accounts? O assets O liabilities O revenues and expenses all of the above To calculate total assets, you would include: O Cash, Accounts Receivable, Accounts Payable, and Capital O Cash, Accounts Receivable, Supplies, and Land (1) Cash, Accounts Receivable, Sales Revenue, and Capital Cash, Accounts Receivable, Supplies, and Capital A Trial Balance is a list of all transactions from the general journal. O all customers that owe the company cash all general ledger accounts and their balances. O the totals from the journal pages