Which of the Following Companies Would Be Least Likely to Use

question 93

Multiple Choice

Which of the following companies would be least likely to use a worksheet to facilitate the adjustment process?

• A) Large company with numerous accounts
• B) Small company with numerous accounts
• C) All companies since worksheets are required under generally accepted accounting principles
• D) Small company with few accounts

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Definitions:

General Ledger

The General Ledger is a complete record of all financial transactions over the life of a company, organized by accounts.

Sales Journal

is a specialized accounting journal used to record all sales transactions of a business on credit.

Merchandise

Goods or products that are bought and sold by businesses.

Credit Sales

Sales made by a business where payment is delayed as per agreed-upon terms, typically recorded as accounts receivable.