A work sheet is useful for all except which of the following?
A)Preparing financial statements
B)Recording closing entries
C)Recording adjusting entries
D)Recording transactions from source documents

Question

Quizplus · Accepted Answer

A worksheet is a tool used by accountants to draft an entity's financial statements and ensure that the entries are correct. It helps in preparing financial statements (A), recording adjusting entries (C), and is used during the closing process to assist in recording closing entries (B). However, it is not used for recording transactions from source documents (D); that is the role of journals and ledgers.

A Work Sheet Is Useful for All Except Which of the Following