3 Written questions
3 Multiple choice questions
- Changes recorded on a work sheet to update general ledger accounts at the end of the fiscal period.
- The difference between total revenue and total expenses when total expenses is greater.
- A proof of the equality of debits and credit in a general ledger.
2 True/False questions
net income → The difference between total revenue and total expenses when the revenue is greater.
fiscal period → The length of time for which a business summarizes and reports financial information.