Which amount is directly found on the worksheet?
A) Cost of Goods Sold
B) Gross Profit
C) Net Sales
D) None of the above

Question

Quizplus · Accepted Answer

The worksheet is a tool used for planning and adjusting entries before those adjustments are made in the official accounts and before the financial statements are prepared. None of the specific amounts listed (Cost of Goods Sold, Gross Profit, Net Sales) are directly found on the worksheet; instead, they are calculated based on the information in the worksheet and then reported on the financial statements.

Which Amount Is Directly Found on the Worksheet