The _____ summarizes an organization’s financial status at the end of an accounting period

The _____ summarizes an organization’s financial status at the end of an accounting period

20. The _____ summarizes an organization’s financial status at the end of an accounting period

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A.trial balance
B.income statement
C.cash flow statement
D.balance sheet
E.accounts payable ledger

 

21. Watts Regulator makes hydroponic pressure valves used in water pumps and water heaters. Watts had $100,000 in net sales for the month. Cost of goods sold was $42,000. On an income statement, the remaining $58,000 would be classified as: here]

 

A.gross revenues
B.net income
C.general income
D.net revenues
E.gross profit

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