How does a debit balance in the wages and salaries expense account affect a firm's income statement?
A) A debit balance will increase the expenses of the firm's income statement. This will increase the total expenses of the firm and decrease the net income of the firm.
B) A debit balance will decrease the expenses of the firm's income statement. This will increase the total incomes of the firm and decrease the net income of the firm.
C) A debit balance will increase the expenses of the firm's income statement. This will decrease the total expenses of the firm and increase the net income of the firm.
D) A debit balance will increase the income of the firm's income statement. This will increase the total expenses of the firm and increase the net income of the firm.
A) A debit balance will increase the expenses of the firm's income statement. This will increase the total expenses of the firm and decrease the net income of the firm.
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