Asked by Summer Bourbon on Jun 17, 2024
Verified
Because it is a necessary financial statement,the work sheet must be prepared according to specified accounting procedures.
Work Sheet
A work sheet is an informal business document used for preparing financial statements and facilitating the end-of-period accounting process, often in an Excel spreadsheet or similar format.
- Apprehend the utility and positive aspects of applying a worksheet in the course of the accounting cycle.
Verified Answer
LT
La'Dale ThomasJun 17, 2024
Final Answer :
False
Explanation :
The worksheet is an internal document that helps in the preparation of financial statements but is not a mandatory financial statement itself, nor does it have a specified format that must be followed.
Learning Objectives
- Apprehend the utility and positive aspects of applying a worksheet in the course of the accounting cycle.