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The adjustments on a worksheet can be posted directly

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The adjustments on a worksheet can be posted directly 1. A worksheet is a mandatory form that must be prepared along with an income statement and statement of financial position. 2. If a worksheet is used, financial statements can be prepared before adjusting entries are journalized. 3. If total credits in the income statement columns of a worksheet exceed total debits, the enterprise has net income. 4. It is not necessary to prepare formal financial statements if a worksheet has been prepared because financial position and net income are shown on the worksheet. 5. The adjustments on a worksheet can be posted directly to the accounts in the ledger from the worksheet. Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help

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