Working paper used to collect information from the ledger

Line drawn under the column of amounts.

Requires matching expenses incurred in an accounting period.

Total amount of revenue remaining after an accounting period

Total expenses exceeds total revenue.

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Chap 8

Question	Answer
Work Sheet	Working paper used to collect information from the ledger
Ruling	Line drawn under the column of amounts.
Matching Principle	Requires matching expenses incurred in an accounting period.
Net Income	Total amount of revenue remaining after an accounting period
Net Loss	Total expenses exceeds total revenue.