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Accounting Chapter 6

Authored by Antje Carter

Other

9th - 12th Grade

Used 11+ times

Accounting Chapter 6
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19 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

net loss

income statement

work sheet

2.

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

balance sheet

net loss

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

adjustments

fiscal period

income statement

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

net loss

income statement

trial balance

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

balance sheet

fiscal period

income statement

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

net income

trial balance

work sheet

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

net income

trial balance

adjustments

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