Which of the following does NOT appear on the worksheet?
A)Adjusting entries
B)Closing entries
C)Adjusted balances
D)Profit

Question

Quizplus · Accepted Answer

The worksheet is used to prepare adjusting entries, which account for timing differences and ensure accurate financial statements. It also shows adjusted balances, which reflect the impact of these entries. The worksheet may show profit or loss, but it does not include closing entries, which are made at the end of a period to transfer the balances of temporary accounts (such as revenue and expenses) to permanent accounts (such as retained earnings).

Which of the Following Does NOT Appear on the Worksheet