An internal document that helps summarize data for the preparation of financial statements is called a ________.
A) journal
B) ledger
C) worksheet
D) chart of accounts

Question

Quizplus · Accepted Answer

A worksheet is an internal document used to summarize data and complete the preparation of financial statements. It includes columns for adjusting entries, trial balances, and other financial information necessary for the statements. Journals and ledgers are used for recording financial transactions, and a chart of accounts is a list of all accounts used by a company.

An Internal Document That Helps Summarize Data for the Preparation