Worldatwork Exam T7 Topic 2 Question 100 Discussion

Actual exam question for Worldatwork's T7 exam

Question #: 100
Topic #: 2

[All T7 Questions]

What are balanced sheets and income statements linked by?

AInvesting activities

BRetained earnings

CExpenses

DNet income

Show Suggested Answer

Suggested Answer: B

by Hyman at Sep 16, 2024, 07:08 PM

Limited Time Offer

25%

Off

Get Premium T7 Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel

Laurene

2 months ago

Definitely D) Net income. It's the financial equivalent of a Swiss army knife - it does it all!

upvoted 0 times

Fairy

1 months ago

Net income is crucial for understanding the overall financial health of a company.

upvoted 0 times

...

Brock

1 months ago

Without net income, the balance sheet and income statement wouldn't make sense.

upvoted 0 times

...

Clorinda

2 months ago

I agree, net income is like the glue that holds everything together.

upvoted 0 times

...

Derrick

2 months ago

D) Net income, without a doubt. It's the bottom line that connects the balance sheet and income statement like a financial superhighway.

upvoted 0 times

...

Detra

2 months ago

Net income, for sure! Expenses and retained earnings are important, but they're just pieces of the puzzle. Net income is the big kahuna that ties it all together.

upvoted 0 times

Melda

1 months ago

Investing activities and expenses are important, but net income is what really connects the dots.

upvoted 0 times

...

Audry

2 months ago

So true, without net income, the whole financial picture would be incomplete.

upvoted 0 times

...

Jacinta

2 months ago

I agree, it's like the missing piece that brings everything together.

upvoted 0 times

...

Nickie

2 months ago

Net income is definitely the key to linking balanced sheets and income statements.

upvoted 0 times

...

Antonio

2 months ago

But don't expenses also play a role in linking balanced sheets and income statements?

upvoted 0 times

...

Lemuel

3 months ago

I agree with Keneth, net income is the key factor that connects the two financial statements.

upvoted 0 times

...

Eric

3 months ago

Ah, the classic question! Let's see, I think it's gotta be D) Net income. That's the glue that holds the whole financial statements together, right?

upvoted 0 times

Colette

2 months ago

Absolutely, net income is crucial for connecting the two financial statements.

upvoted 0 times

...

Dahlia

2 months ago

So, it's safe to say that D) Net income is the correct answer.

upvoted 0 times

...

Shasta

2 months ago

Without net income, the financial statements wouldn't balance out.

upvoted 0 times

...

Bea

2 months ago

I agree, net income is definitely the link between the balanced sheet and income statement.

upvoted 0 times

...

Keneth

3 months ago

Balanced sheets and income statements are linked by net income.

upvoted 0 times

...