All of the Following Statements Are True Regarding the Use

question 18

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:

Formula

In mathematics or chemistry, a concise way of expressing information symbolically, such as an equation or a chemical compound.

Mental Set

A framework for thinking about a problem based on previous experiences or methods, which can sometimes limit problem-solving abilities.

Intelligence Testing

the measurement of a person's intellectual abilities and potential, usually through a series of tasks and assessments that cover various cognitive skills.

Binet

Alfred Binet, a French psychologist best known for developing the first intelligence test.