The First Step in Preparing a Worksheet Is to ________

question 176

Multiple Choice

The first step in preparing a worksheet is to ________.

• A) place adjusted trial balance amounts in appropriate income statement and balance sheet columns
• B) compute the adjusted balance in the adjusted trial balance columns
• C) enter the adjusting journal entries in the adjustments columns
• D) prepare an unadjusted trial balance

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Definitions:

Physical Units

Refers to the actual count or quantity of items, products, or assets, without regard to their value or cost.

Materials Added

Raw materials introduced into the production process to create a product.

Equivalent Units

A concept in cost accounting used to apportion costs to partially completed goods, calculated by considering the work done on them as equivalent to a certain number of fully completed units.

Materials Entered

This term refers to the recording or entry of raw materials into the production process or inventory system.