An optional columnar working paper used to prepare a company's unadjusted trial balance,adjusting entries,adjusted trial balance,and financial statements is a(n):
A)Adjusted trial balance.
B)Work sheet.
C)Post-closing trial balance.
D)Unadjusted trial balance.
E)General ledger.

Question

Quizplus · Accepted Answer

A work sheet is an optional columnar working paper used by accountants to organize their thoughts and facilitate the preparation of adjusting entries, an adjusted trial balance, and financial statements. It's usually created at the end of an accounting period and can be used to identify errors and ensure that all necessary adjustments have been made before finalizing the financial statements. The other options listed (adjusted trial balance, post-closing trial balance, unadjusted trial balance, general ledger) are all types of financial statements or accounting records but are not specifically used to prepare the work sheet.

An Optional Columnar Working Paper Used to Prepare a Company's