Financial statements prepared from a work sheet offer more information than if it is not used and statements are just prepared from an adjusted trial balance.

Question

Quizplus · Accepted Answer

A worksheet is a tool for preparation and does not affect the amount of information presented in the financial statements; the content and detail in the financial statements are determined by the accounting policies and standards applied, not by whether a worksheet is used.

Financial Statements Prepared from a Work Sheet Offer More Information