Accounting chapter 6 true and false

Adjusting entries must be posted to the general ledger accounts

True

If an amount is written in an incorrect column on a work sheet, the error should be erased and the amount should be written in the correct column.

True

If the trial balance columns are not equal and the difference can be evenly divided by 9, then the error most likely is a transposed number

True

Net income on a work by subtracting the income statement debit column total from the income statement credit column total

True

The amount of the supplies used during a fiscal period is an expense

True

Tow financial statements are prepared from the information on the work sheet

True

The accounting concept consistent reporting is being spoiled when a word processing service business reports revenue per page one year and revenue per hour the next year

False

When the Income Statement Debit column total is greater than the Income Statement Credit column total on a work sheet, the business has a net income.

False

Many businesses choose a one-year fiscal period that ends during a period of high business activity.

False

Only accounts with a balance are listed in the trial balance columns of a worksheet

False