Accounting Ch.6
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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| Fiscal Period | The length of time for which a business summarizes and reports financial information.
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| Work Sheet | A columnar accounting form used to summarize the general ledger information needed to prepare financial statements
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| Trial Balance | a proof of the equality of debits and credits in a general ledger
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| Adjustments | Changes on a work sheet to update general ledger accounts at the end of a fiscal period
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| Balance Sheet | A financial statement that reports assets, liabilities, and owner's equity on a specific date
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| Income Statement | A financial statement showing the revenue and expenses for a fiscal period
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| Net Income | The difference between total revenue and total expenses where revenue is greater
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| Net Loss | The difference between total revenue and total expenses where expenses is greater
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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