chapter 6 accounting
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| the lenght of time for which a buisness summarizes and reports financial info | fiscial period
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| a columnar accounting form used to summerize the general ledger info needed to prepare financial statements | work sheet
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| proof of the quality of debits and credits in a general ledger | trial balance
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| changes recorded on a work sheet to update general ledger accounts at the end of a fiscial period | adjustments
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| a financial statement showing the revenue and expenses for a fiscial period | income statements
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| a financial statement that reports assets, liabilities, and owners equityon a specific date | Balance sheet
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| the diff between total revenue and total expenses when total revenue is greater | net income
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| the difference between total revenue and total expenses when total expenses are greater | net loss
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