Which of the following is not a reason why a company first prepares a worksheet?
A) simplify recording of adjusting and closing entries in the general journal
B) substitute for the trial balance
C) make it easier to prepare financial statements
D) minimize errors

Question

Quizplus · Accepted Answer

A worksheet is a tool used for planning and not a substitute for the trial balance. The trial balance is a separate step in the accounting process that involves listing all the company's accounts and their balances to ensure that debits equal credits. A worksheet, on the other hand, helps in organizing adjustments, preparing financial statements, and ensuring accuracy, but it does not replace the trial balance.

Which of the Following Is Not a Reason Why a Company