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

Question

Quizplus · Accepted Answer

A work sheet is the most useful aid to the accountant in preparing closing entries as it provides a summary of all accounts and their balances, adjustments, and other necessary information needed to prepare the closing entries. The journal records transactions, the ledger contains all accounts, and the financial statements are prepared after the closing entries are made.

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