click below
click below
Normal Size Small Size show me how
Chapter 8
Term | Definition |
---|---|
Work sheet | A working paper used to collect information from the ledger accounts in one place |
Ruling | Means drawing a line under column of accounts |
Matching principle | Requires matching expenses incurred in an accounting period |
Net income | The amount of revenue that remains after expenses for the period have been subtracted |
Net loss | Decreass owners equity |