An important purpose of the work sheet is to
A)accompany the financial statements in the company's annual report.
B)aid the accountant in the daily preparation of journal entries.
C)replace the journal when making adjusting and closing entries.
D)check the accuracy of adjusting entries before they are entered formally into the accounting records.

Question

Quizplus · Accepted Answer

The work sheet is a tool used by accountants to assist in the preparation of adjusting and closing entries. It is used to check the accuracy of these entries before they are formally entered into the accounting records. The work sheet is not typically included in the company's annual report and does not replace the journal.

An Important Purpose of the Work Sheet Is to