3 Written questions
3 Multiple choice questions
- A columnar accounting form used to summarize the general ledger information needed to prepare the financial statements.
- A financial statement that reports assets, liabilities, and owner's equity on a specific date.
- Changes recorded on a work sheet to update general ledger accounts at the end of the fiscal period.
2 True/False questions
fiscal period → A proof of the equality of debits and credit in a general ledger.
net loss → The difference between total revenue and total expenses when total expenses is greater.