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

Question

Quizplus · Accepted Answer

The work sheet is a tool used by accountants to organize and summarize data for the preparation of financial statements. It is not a ledger, a financial statement, or a journal, but rather an internal document that helps in the accounting process.

Of the Following Statements Is a TRUE Statement Concerning the Work