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3 Written questions

3 Multiple choice questions

  1. A proof of the equality of debits and credit in a general ledger.
  2. The length of time for which a business summarizes and reports financial information.
  3. The difference between total revenue and total expenses when the revenue is greater.

2 True/False questions

  1. balance sheetA columnar accounting form used to summarize the general ledger information needed to prepare the financial statements.

          

  2. net lossThe difference between total revenue and total expenses when the revenue is greater.

          

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