Century 21 Accounting chapter 8
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| The length of time for which a business summarizes and reports financial information | Fiscal Period
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| A financial statement showing the revenue and expenses for a fiscal period | Income Statement
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| A proof of the equality of debits and credits in a general ledger | Trial Balance
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| Changes recorded on a work sheet to update general ledger accounts at the end of a fiscal period | Adjustments
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| A columnar accounting from used to summarize the general ledger information needed to prepare financial statements | Work Sheet
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| The difference between total revenue and total expenses when total revenue is greater | Net Income
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| The difference between total revenue and total expenses when total expenses is greater | Net Loss
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| On the worksheet, Insurance expense is found in the adjustments section as a? | Debit
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| On the worksheet, Supplies Expense is found in the adjustments section as a? | Debit
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| On the worksheet, Prepaid insurance is found in the adjustments section as a? | Credit
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| On the worksheet, Supplies is found in the adjustments section as a? | Credit
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| All asset, Liabilities and Owners Equity accounts are found in what section of the worksheet | Balance Sheet
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| All revenue and all expense accounts are found in what section of the worksheet | Income Statement
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| On the income statement section of the worksheet, if the sales number is greater than the expense number do you have a net gain or a net loss? | Net gain
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| On the income statement section of the worksheet, if the expense number is greater than the sales number do you have a net gain or a net loss? | Net Loss
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| Where do you find the numbers to put in the trial balance section of a worksheet? | General Ledger
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| On the top of a worksheet there is the company name, the title of the form and the date. What 3 words come before the date on that line? | For Month Ended
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| How many credit accounts will you find on the income statement section of the worksheet? | one
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