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A Review of Accounting

Total questions: 9

Worksheet time: 23mins

Name
Class
Date
1.

Who is considered to be the father of Accounting?

(a)  

2.

What is "Accounting"?

4 lines
3.

What is "Finance?"

4 lines
4.

What is the "General Ledger", or the GL?

4 lines
5.

What is the "double-entry accounting system"?

4 lines
6.

What is the "accounting equation?"

4 lines
7.

What is a "T-Account?"

4 lines
8.

What are "debits and credits"?

4 lines
9.

What is the formula for calculating net income?

a)

Revenue - Expenses

b)

Assets - Liabilities

c)

Profit / Loss

d)

Gross Income - Taxes