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Work Sheets - Chapter 7 (I2ACCT)

Authored by David Kaler

Business

9th - 12th Grade

Used 1+ times

Work Sheets - Chapter 7 (I2ACCT)
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27 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A proof of the equality of debits and credits in a general ledger

Trial balance

Net income

Net loss

Proving

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The difference between total revenue and total expenses when total revenue is greater.

Net Income

Net Loss

The

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Changes recorded on a work sheet to update general ledger accounts at the end of a fiscal period.

Adjustments

Modifications

Changes

All of the Above

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A columnar accounting form used to summarize the general ledger information needed to prepare financial statements.

Work sheet

Balance sheet

Income statement

General Ledger

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The length of time for which a business summarizes and reports financial information.

Fiscal period

Annual period

Annual year

Fiscal year

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The difference between total revenue and total expenses when total expenses is greater.

Net Loss

Net Income

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A financial statement showing the revenue and expenses for a fiscal period.

Income statement

Balance Sheet

Work Sheet

None of the above

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