Which of the following is the most useful aid to the accountant in preparing closing entries?
A) Trial Balance
B) Work sheet
C) Journal
D) Financial statements

Question

Quizplus · Accepted Answer

The work sheet is the most useful aid to the accountant in preparing closing entries as it provides a summary of all account balances, adjustments, and necessary calculations. It also helps to identify any errors or discrepancies before the financial statements are prepared. The trial balance provides a list of all account balances, but it does not include adjustments or calculations. The journal is used to record transactions, but it does not provide a summary of account balances. The financial statements are prepared after the closing entries have been made.

Which of the Following Is the Most Useful Aid to the Accountant