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Accounting unit 8 Questions and Answers 2024 $8.99
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Accounting unit 8 Questions and Answers 2024
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Accounting unit 8 Questions and Answers 2024 A net income is entered in the — column of the income statement section ** Answ** Debit Drawing a line under a column of amounts is known as — ** Answ** Ruling The — explains the who, what, and when of the worksheet ** Answ** ...

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  • July 17, 2024
  • 3
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

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  • accounting unit 8 questions and answers 2024

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  • Accounting and Finance
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Accounting unit 8 Questions and Answers 2024|
Updated !!
A net income is entered in the — column of the income statement section ** Answ**
Debit

Drawing a line under a column of amounts is known as — ** Answ** Ruling

The — explains the who, what, and when of the worksheet ** Answ** Heading

A net income of loss will increase or decrease the — account ** Answ** Capital

The — of the worksheet includes all the general ledger accounts ** Answ** Trial
balance section

According to the —, expenses are matched against revenue for the same period **
Answ** Matching principle

When the Income Statement debit column total is greater than the Income Statement
credit column total, a(n) — occurs. ** Answ** Net loss

The — of the work sheet includes only the temporary general ledger accounts. **
Answ** Income statement section

A net income is entered in the — column of the balance sheet section ** Answ**
Credit

The — of the work sheet includes all permanent general ledger accounts. ** Answ**
Balance sheet section

The amount left after expenses for the period have been subtracted from revenue for
the period is — ** Answ** Net income

transferring balances from the trial balance section is called — the balances. **
Answ** Extending

a working paper used to collect info from the ledger accounts is a — ** Answ**
Worksheet

The worksheet is used to pull together all the information needed to prepare the
financial statements and complete the end-of-period activities ** Answ** True

A single rule under a column of amounts means that the amounts are to be added or
subtracted ** Answ** True

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