3 Written questions
3 Multiple choice questions
- A financial statement that reports assets, liabilities, and owner's equity on a specific date.
- A columnar accounting form used to summarize the general ledger information needed to prepare the financial statements.
- The length of time for which a business summarizes and reports financial information.
2 True/False questions
net loss → The difference between total revenue and total expenses when the revenue is greater.
net income → The difference between total revenue and total expenses when total expenses is greater.