Asked by
Hadeel Ayyad
on Nov 12, 2024
Verified
The work sheet is not considered a part of the formal accounting records.
Formal Accounting Records
Official documents and books that systematically record financial transactions and positions of a business.
Work Sheet
An internal document used by accountants to prepare financial statements, gather information, and perform adjustments before the closing of accounts.
- Understand the purpose and use of the work sheet in accounting processes.
Verified Answer
AS
Learning Objectives
- Understand the purpose and use of the work sheet in accounting processes.