TVS Accounting1-6 Word Scramble
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Question | Answer |
The length of time for which a business summarizes and reports financial information | Fiscal Period |
A columnar accounting form used to summarize the general ledger information needed to prepare financial statements | Worksheet |
When changes in financial information are reported for a specific period of time in the form of financial statments | Accounting Period Cycle |
A proof of the equality of debits and credits in a general ledger | Trial Balance |
Changes recorded on a work sheet to update general ledger accounts at the end of a fiscal period | Adjustments |
After the adjustments are made, the expenses incurred to earn revenue are reported in the same fiscal period as the revenue is earned and reported | Matching Expenses with Revenue |
A financial statement that reports assets, liabilities, and owner's equity on a specific date | Balance Sheet |
A financial statement showing the revenue and expenses for a fiscal period | Income Statement |
Created by:
TammieVanScyoc
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