If a business had a net loss for the year, where would the net loss be reported on the worksheet?

The information on the statement of changes in owners equity is used in preparing the income statement. True or false?

Based on the SOX act, who is held responsible for the accuracy of a firm's annual reports? Please explain.

If a company faced loss, while preparing the worksheet for the company, which sentence is correct for recording the loss? Select one: a. The loss is placed in the income statement debit column and balance sheet credit column. b. The loss is placed in the income statement credit column and balance sheet debit column. c. The loss is placed in the income statement debit column and balance sheet debit column. d. The loss is placed in the income statement credit column and balance sheet credit column.