The end-of-period spreadsheet

A) is an integral part of the accounting cycle
B) eliminates the need to rewrite the financial statements
C) is a working paper that is required
D) is used to summarize account balances and adjustments for the financial statements

Accounting Cycle

The collective process of recording and processing the accounting events of a company, from when the transaction occurs, to its inclusion in the financial statements.

Financial Statements

Consolidated documents presenting the financial status, performance, and cash flows of a company, primarily comprising the balance sheet, income statement, and statement of cash flows.

Working Paper

Documents that record the detailed information and procedures used in an audit or financial analysis, serving as the basis for conclusions.