Which of the following statements is TRUE concerning the worksheet?
A) The worksheet is a ledger.
B) The worksheet is a document used to summarize data to prepare the financial statements.
C) The worksheet is a financial statement.
D) The worksheet is a journal.

Question

Quizplus · Accepted Answer

The worksheet is a document used to summarize data to prepare the financial statements. It is not a ledger, financial statement, or journal in itself, but rather a tool used in the accounting process.

Which of the Following Statements Is TRUE Concerning the Worksheet