3 Written Questions
3 Multiple Choice Questions
- Journal entries recorded to update general ledger accounts at the end of a fiscal period.
- The series of accounting activates included in recordung financial information for a fiscal period.
- Accounts used to accumulate information from one fiscal period to the next.
3 True/False Questions
Sole Proprietorship → Businesses are owned by two or more people who are co-owners of the business.
Corporation → Businesses are owned by two or more people who are co-owners of the business.
Post-closing Trial Balance → Journal entries used to prepare temporary accounts for a new fiscal period.