When Using a Worksheet to Prepare Accounting Reports in a Manual

question 42

Multiple Choice

When using a worksheet to prepare accounting reports in a manual accounting system, what is the correct set of column headings?

• A) Unadjusted trial balance, adjustments, adjusted trial balance, income statement, balance sheet.
• B) Opening balances at the start of the period, adjustments and adjusted trial balance.
• C) Unadjusted trial balance, adjustments, income statement, balance sheet and statement of changes in equity.
• D) Adjusted trial balance, income statement and balance sheet.

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Definitions:

Tacit Knowledge

Knowledge that is difficult to transfer to another person by writing it down or verbalizing it, often gained through personal experience.

Explicit Knowledge

Information or knowledge that is easily articulated, codified, accessed, and verbalized, typically found in documents or databases.

Observation

The action or process of closely monitoring or noting something or someone in order to gain information.

Johari Window

A model used to understand and improve self-awareness, interpersonal relationships, and mutual understanding within groups.