Net Income:A) Decreases equity.B) Represents the amount of assets stockholders put into a business.C) Equals assets minus liabilities.D) Is the excess of revenues over expenses.E) Represents stockholders' claims against assets.

Net income — also referred to as net profit, net earnings or the bottom line — is the amount an…

Answered: Net Income: A) Decreases equity. B)…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 17MC: Which statement is most directly affected by a change to net income? A. balance sheet B. income...

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Similar questions

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Net Income: A) Decreases equity. B) Represents the amount of assets stockholders put into a business. C) Equals assets minus liabilities. D) Is the excess of revenues over expenses. E) Represents stockholders' claims against assets.