All of the Following Statements Are True Regarding the Use

question 145

Multiple Choice

All of the following statements are true regarding the use of a work sheet at the end of an accounting period except:

• A) all companies use a ten-column work sheet.
• B) the net income of the period is extended from the income statement debit column to the balance sheet credit column.
• C) the beginning balance in the Retained Earnings account is entered initially on the work sheet on the unadjusted trial balance.
• D) cash is always carried over from the unadjusted trial balance columns of the work sheet to the balance sheet columns without any adjustment.

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Definitions:

Primacy Effect

In free recall, the tendency to recall the first items on the list more readily than those in the middle.

Recency Effect

is the tendency to remember the most recently presented information best.

Personally Relevant

Pertaining directly to or having a direct impact on an individual's personal life, interests, or situations.

Working Memory

A cognitive system responsible for temporarily holding information available for processing.