Which of the Following Is True Regarding a Worksheet Prepared

question 17

Multiple Choice

Which of the following is true regarding a worksheet prepared at year-end?

• A)The number of account titles applicable to the Adjusted Trial Balance columns is usually greater than the number of account titles applicable to the Trial Balance columns.
• B)The worksheet can be issued instead of financial statements.
• C)The worksheet eliminates the need to make adjusting and closing entries.
• D)An equal number of account titles are applicable to the Income Statement columns and the Balance Sheet columns.

---

Definitions:

Subsidy

A financial contribution provided by the government to support or promote a particular economic activity or sector.

Elastic Demand

A market condition where the demand for a product changes significantly in response to changes in price.

Inelastic Supply

Refers to a market scenario where the quantity supplied does not change significantly when the price of the product changes.