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3 Written questions

3 Multiple choice questions

  1. A financial statement that reports assets, liabilities, and owner's equity on a specific date.
  2. A columnar accounting form used to summarize the general ledger information needed to prepare the financial statements.
  3. The length of time for which a business summarizes and reports financial information.

2 True/False questions

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

          

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

          

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