100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Accounting Chapter 6 questions & answers. $9.29   Add to cart
Quickly navigate to
Preview
  2.  
  3. Accounting 101
  4.  
  5. Accounting 101

Exam (elaborations)

Accounting Chapter 6 questions & answers.
 5 views  0 purchase
  • Course
  • Accounting 101
  • Institution
  • Accounting 101

Accounting Chapter 6 questions & answers.

Preview 1 out of 4  pages

Document information

  • August 29, 2024
  • 4
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • accounting chapter 6 questions answers

Written for

  • Accounting 101
  • Accounting 101

Seller

avatar-seller
Professorkaylee

Content preview

Accounting Chapter 6 questions &
answers.

The length of time for which a business summarizes and reports financial information ANS - fiscal
period



A columnar accounting form used to summarize the general ledger information needed to prepare
financial statements ANS - work sheet



A proof of equality of debits and credits in a general ledger ANS - trial balance



Changes recorded on a worksheet to update general ledger accounts at the end of a fiscal period ANS -
adjustments



A financial statement that reports assets, liabilities, and owner's equity on a specific date. ANS -
balance sheet



A financial statement showing the revenue and expenses for a fiscal period ANS - income statement



The difference between total revenue and total expenses when total revenue is greater ANS - net
income



The difference between total revenue and total expenses when total expenses are greater ANS - net
loss



True or False: The accounting concept Consistent Reporting is being applied when a delivery business
reports the number of deliveries made one year and the amount of revenue received for deliveries
made the next year. ANS - false



True or False: An accounting period is known as fiscal period. ANS - true

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Professorkaylee. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $9.29. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

77254 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$9.29
  • (0)
  Add to cart