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Exam (elaborations)

Book Keeping Practice Questions and Answers | 100% Pass

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Book Keeping Practice Questions and Answers | 100% Pass A list of business transactions recorded as debits and credits in the order the transactions occurred - Answer️️ -General Journal What are the 4 basic Financial Statements? - Answer️️ -1. Balance Sheet 2. Income Statement 3. Stat...

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  • September 13, 2024
  • 5
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Book keeping
  • Book keeping
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, ©SOPHIABENNETT EXAM SOLUTIONS Saturday, September 7, 2024 6:58 PM



Book Keeping Practice Questions and
Answers | 100% Pass


A list of business transactions recorded as debits and credits in the order the

transactions occurred - Answer✔️✔️-General Journal


What are the 4 basic Financial Statements? - Answer✔️✔️-1. Balance Sheet

2. Income Statement

3. Statement of Stockholder's Equity

4. Statement of Cash Flows

A worksheet used to verify that debits equal credits in the accounting records -

Answer✔️✔️-Trail Balance

All of the accounts used by a business collected together - Answer✔️✔️-General Ledger

A list of accounts used by a business - Answer✔️✔️-Chart of Accounts

What is contained on a Balance Sheet? - Answer✔️✔️-assets, liabilities, equity

What is contained on an Income Statement - Answer✔️✔️-Revenues, expenses, and net

income or net loss

What is contained on a Statement of Equity - Answer✔️✔️-Common Stock, Retained

Earnings

May have Preferred Stocks and Bonds




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