Adjusting entries are normally entered in the General Journal before they are recorded on the work sheet.
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Q8: A work sheet can be prepared manually
Q9: On the work sheet, profit is entered
Q10: If interim financial statements are required, adjusting
Q11: Revenue and expense accounts are permanent accounts
Q12: Closing entries are normally entered in the
Q14: On the work sheet, a loss is
Q15: To prepare the balance sheet, all necessary
Q15: Closing revenue and expense accounts at the
Q17: Financial statements prepared from a work sheet
Q18: A work sheet is prepared before entering
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