Accounting Chapter 6 Word Scramble
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| Question | Answer |
| Fiscal Period | Time and length of time for which a business summarizes and reports financial information. |
| Work Sheet | A columner accounting form used to summarize the general ledger information needed to prepare financial statement. |
| Trial Balance | A proof of the equality of debits and credits in a general ledger. |
| Adjustments | Changes recorded on a work sheet to update general ledger accounts at the end of a fiscal period. |
| Balance Sheet | A financial statement that reports assets, liabilities and owners equity on a specific date. |
| Income Statement | A financial statement showing the revenue and expenses for a fiscal period. |
| Net Income | The difference between total revenue and total expenses when total revenue is greater. |
| Net Loss | The difference between total revenue and total expenses and total expenses when total expenses are greater. |
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CCarrico
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