Which of the Following Is False About the Worksheet Entry

question 79

Multiple Choice

Which of the following is false about the worksheet entry process?

• A) Worksheet entries are never booked; they are only used on the worksheets.
• B) Worksheets for the Changes in General Fixed Assets and Changes in General Long Term Debt should be completed.
• C) Entries are not necessary for the beginning balance of long-term assets since they were entered last year.
• D) The conversion worksheet is where the government fund account balances combine with the adjustment or eliminations (worksheet entries) to come to the adjusted balances needed for the government wide statements.

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Definitions:

Business Activities

Actions undertaken by a company in pursuit of its commercial, operational, or financial objectives.

Make Deposit

The act of placing money into a financial account, such as a bank account, typically recorded in the company's cash receipts process.

Purchase Order

A document issued by a buyer to a seller with details about the purchase, including types of products, quantities, and prices, serving as a legally binding agreement prior to the transfer of goods.

Create Invoice Order

The action of generating a formal document that requests payment from customers for goods or services provided.