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When the balance in the Income Summary account is a credit, the company has: A. incurred a net loss. B. incurred a net income. C.
When the balance in the Income Summary account is a credit, the company has:
| A. incurred a net loss. | |
| B. incurred a net income. | |
| C. had more expenses than revenue. | |
| D. made an error in their closing entries. |
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Strategic Business Management From Planning To Performance
Authors: Gary Cokins
1st Edition
1937352358, 978-1937352356
