Is just what its name implies a working paper used to collet information from the ledger accounts in one place.

Matching expenses incurred in an accounting period with the revenue earned in the same period.

The amount of revenue that remains after the expenses for the period.

When the owners equity decreases.

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Chapter 8 Vocab

Term	Definition
Work Sheet	Is just what its name implies a working paper used to collet information from the ledger accounts in one place.
Ruling	Drawing a line.
Matching Principle	Matching expenses incurred in an accounting period with the revenue earned in the same period.
Net income	The amount of revenue that remains after the expenses for the period.
Net Loss	When the owners equity decreases.