Chapters 6 and 7 Word Scramble
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Chapters 6 and 7
chapters 6 and 7
| Question | Answer |
|---|---|
| A columnar accounting form used to summarize the general ledger information needed to prepare financial stements. | Work Sheet |
| Changes recorded on a worksheet to update the general ledger accounts at the end of a fiscal period. | adjustments |
| A financial statement that reports assets, liabilities, and O.E. on a specific date. | Balance Sheet |
| A financial statement showing the revenue and expenses for a fiscal period. | Income Statement |
| Concept applied when financial statements contain all information necessary to understand a business's financial condition. | The Adequate Disclosure accounting concept. |
| Percentage relationship between one financial statement item and the total that includes that item. | Component percentage |
| Reports financial information on a specific date and includes the assets, liabilities, and O.E. | Balance Sheet |
Created by:
kaylajagnow
on 2011-11-03