Intermediate Accounting (16th Edition)

Published by Wiley
ISBN 10: 1118743202
ISBN 13: 978-1-11874-320-1

Chapter 3 - The Accounting Information System - Review and Practice - Questions - Page 128: 19

Answer

A worksheet is a permanent accounting record but is not required in the accounting cycle.

Work Step by Step

A worksheet is informal in nature and is used for sorting and accumulating information required for financial statements. Thus, it is optional.
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