Multiple Choice
When using a work sheet
A) an equal number of account titles are applicable to the Income Statement columns and the Balance Sheet columns.
B) adjusting entries are not made since they appear on the work sheet.
C) net income appears in both the Income Statement debit column and the Balance Sheet credit column.
D) the Income Statement column and Balance Sheet column of the work sheet eliminate the need to prepare formal financial statements.
Correct Answer:
Verified
Correct Answer:
Verified
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