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Chp 8

TermDefinition
Work Sheet A working paper used to collect information from the ledger accounts in one place
Ruling drawing a line, entry's are ready to be totaled
Matching principle requires matching expenses incurred in a accounting period with the revenue earned in the same period
Net Income is the amount of revenue that remains after expenses for the period have been subtracted.
Net loss When total expenses are more than total revenue
Created by: Jdegolier16
Popular Accounting sets

 

 



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