A Columnar Working Paper Used to Prepare a Company's Unadjusted

question 67

Multiple Choice

A columnar working paper used to prepare a company's unadjusted trial balance, adjusting entries, adjusted trial balance, and financial statements, and which is an optional tool in the accounting process is a(n) :

• A) Adjusted trial balance.
• B) Work sheet.
• C) Post-closing trial balance.
• D) Unadjusted trial balance.
• E) General ledger.

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Definitions:

Ethics Investigation

A formal inquiry to determine whether standards of professional conduct have been violated.

Inventory System

A system to keep track of the items available for sale and those sold, often utilizing software for management and efficiency.

Estimating Inventories

The process of approximating the quantity and value of inventory a business has on hand.

Gross Profit Method

A technique to estimate inventory cost by using the gross profit margin, often used when physical inventory counts are impractical.