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Unformatted text preview: Accounting Period is called the Accounting Cycle. F 10. The largest transaction occurring during the Accounting Period is always entered first in the General Journal. T 11. For each entry in the General Journal, the total dollar amount of the debits and the total dollar amount of the credits must always be equal. F 12. The Balance Sheet is produced from the account balances shown in the General Journal. T 13. The Balance Sheet is produced from the account balances shown in the General Ledger. T 14. The primary reason the accountant prepares a Trial Balance is to determine if the accounting system is in balance....
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This note was uploaded on 04/02/2012 for the course MKTG 300 taught by Professor Wong during the Spring '12 term at St. Xavier.
- Spring '12