When Using the Trial Balance Worksheet to Prepare the Statement

question 181

Multiple Choice

When using the Trial Balance Worksheet to prepare the Statement of Retained Earnings,what information is used from the Trial Balance Worksheet?

• A)net income or net loss
• B)revenues and expenses
• C)Beginning Balance Retained Earnings and Dividends
• D)Cash account

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Definitions:

Elementary

Pertaining to the basic, fundamental aspects or principles of a subject.

Information

Data that is processed, organized, or structured in a given context to make it meaningful and useful.

Knowledge

Information, understanding, or skill obtained through experience or education.

Strategic IS

Refers to Strategic Information Systems, which are systems that help organizations gain a competitive advantage through their use.