Task Team of FUNDAMENTAL ACCOUntING hool of Business, Sun Y at-sen University Lesson 6 Accounting for Merchandising Activities Self-Test L. True and False Questions The income statement of a wholesaler includes a deduction from revenue representing the cost
Fundamental Principles of Accounting Information system A diagram of the accounting process Accounting System Components General Journal Transactions Computerized Accounting Information System
Task Team of FUNDAMENTAL ACCOUNTING School of Business, Sun Yat-sen University Lesson 6 Accounting for Merchandising Activities Self-Test I. True and False Questions 1. The income statement of a wholesaler includes a deduction from revenue representing the cost
1. The branch of accounting which aims at serving external users is called 2. a credit entry decreases asset and accounts or increases liability owner's equity, and revenue accounts
Outline Q Describe the preparation of adjusted trial balance Describe and prepare a worksheet and describe its usefulness Describe the closing process and explain why temporary accounts are closed each period