1. The amount of the net income for a period appears on both the income statement and the balance sheet for that period.
1true
2.false
i guess it is 1.true
2. At the end of the fiscal period, prepaid expenses are reported on the Income Statement as expenses.
1. False
2. True
I guess it will be 1 False.
3.Once an account has been closed for the period, inserting a line in the balance columns zeros out the account, making it ready for the following period.
1. False
2. True
i guess it is 1false.
4. When accounts do not appear on the unadjusted trial balance but are needed to post adjustments, they are simply added to the account title column.
1. False
2. True
i guess it is 2.true
5. A fiscal year that ends when business activities have reached their lowest point is called the natural business year.
1.true
2.false
i think it will be 1, ture
1true
2.false
i guess it is 1.true
2. At the end of the fiscal period, prepaid expenses are reported on the Income Statement as expenses.
1. False
2. True
I guess it will be 1 False.
3.Once an account has been closed for the period, inserting a line in the balance columns zeros out the account, making it ready for the following period.
1. False
2. True
i guess it is 1false.
4. When accounts do not appear on the unadjusted trial balance but are needed to post adjustments, they are simply added to the account title column.
1. False
2. True
i guess it is 2.true
5. A fiscal year that ends when business activities have reached their lowest point is called the natural business year.
1.true
2.false
i think it will be 1, ture