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accounting quiz Test

Enter the letter for the matching Answer
incorrect
1.
fiscal period
incorrect
2.
Stakeholders
incorrect
3.
Income statement
incorrect
4.
Trial balance
incorrect
5.
Net Income
A.
Difference between total revenue and total expenses when total revenue is greater
B.
length of time for which a business summarizes and reports financial information is called
C.
a proof of the equality of debits an credits in a general ledger is called
D.
People who will be affected by an action
E.
A financial statement showing the revenue and expenses for a fiscal period
Type the Question that corresponds to the displayed Answer.
incorrect
6.
a columnar accounting form used to summarize the general ledger info needed to prepare financial statements is called
incorrect
7.
the percentage relationship between one financial statement item and the total that includes that item
incorrect
8.
financial statement that reports assets, liabilities, and OE on a specific date
incorrect
9.
When the total revenue is less than the total expenses
incorrect
10.
changes recorded to updatae general ledger accounts at the end of a fiscal period

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Created by: benjaminparmley
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