GB 518 RANK Career Path Begins/gb518rank.com GB 518 RANK Career Path Begins/gb518rank.com | Page 17

Analyze, Post, Unadjusted Trial Balance
Journalize, Post, Adjusted Trial Balance
Unadjusted Trial Balance, Adjusted Trial
Balance, Close
Adjusted Trial Balance, Adjustments,
Financial Statements

Question 23. Question :
The approach to preparing
financial statements based on recognizing revenues when they
are earned and matching expenses to those revenues is:
Cash basis accounting
The matching principle
The time period principle
Accrual basis accounting
Revenue basis accounting

Question 24. Question :
A balance sheet that places the
assets above the liabilities and equity is called a(n):