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