Which of the Following Statements Is Incorrect

question 31

Multiple Choice

Which of the following statements is incorrect?

• A) Working papers are useful aids in the accounting process.
• B) On the work sheet, the effects of the accounting adjustments are shown on the account balances.
• C) After the work sheet is completed, it can be used to help prepare the financial statements.
• D) On the work sheet, the adjusted amounts are sorted into columns according to whether the accounts are used in preparing the unadjusted trial balance or the adjusted trial balance.
• E) A worksheet is not a substitute for financial statements.

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Definitions:

Type A Personality

A personality trait characterized by high levels of competitiveness, self-imposed stress, and a constant sense of urgency.

Multitasking

The action or capability of handling more than one task simultaneously or switching between tasks quickly.

Cognitive Dissonance

The psychological discomfort experienced by an individual who holds two or more contradictory beliefs, values, or ideas simultaneously.

Psychological Discomfort

a state of emotional or mental unease, often associated with anxiety, stress, or uneasiness.