Multiple Choice
Once all entries have been recorded in the worksheet you should:
A) total all the columns.
B) check the total of the asset accounts equals the total of the liability and equity accounts.
C) use the column totals to prepare a balance sheet and income statement.
D) all of the above.
Correct Answer:

Verified
Correct Answer:
Verified
Q58: Invoices,purchase orders,and credit card slips are examples
Q59: _ is added to opening equity to
Q60: The _ _ accounting method requires each
Q61: An error that occurs when only one
Q62: If a transaction worth $50 is not
Q64: Which of the following statements about a
Q65: A business pays $500 cash for their
Q66: If assets are $225 000,opening equity is
Q67: A worksheet error that is relatively easy
Q68: In a manual accounting system,the journal(s)most likely