The following are can be found in a worksheet except.Select one:a.Income statementb.Trial balancec.Balance sheetd.Cash flow
Question
The following are can be found in a worksheet except.
Select one:
- a. Income statement
- b. Trial balance
- c. Balance sheet
- d. Cash flow
Solution
1. Break Down the Problem
The question asks which of the listed financial documents cannot typically be found on a worksheet. The options provided are:
- Income statement
- Trial balance
- Balance sheet
- Cash flow statement
2. Relevant Concepts
In accounting, a worksheet is typically used to facilitate the process of preparing financial statements. It generally organizes the financial data and prepares it for the following commonly used financial documents:
- Trial Balance: A summary of all of the financial balances in the general ledger.
- Income Statement: A statement showing the revenue and expenses over a period of time.
- Balance Sheet: A snapshot of the financial condition at a specific point in time.
- Cash Flow Statement: A statement detailing the cash inflows and outflows over a period.
3. Analysis and Detail
- Income Statement: While the income statement is prepared using information from the worksheet, it is not directly part of the worksheet.
- Trial Balance: Directly derived from the worksheet and typically included.
- Balance Sheet: Can be drafted from the worksheet, hence included.
- Cash Flow Statement: While related, it is not typically included in initial worksheets.
4. Verify and Summarize
Looking at the definitions and purposes of each document, the cash flow statement is often a separate entity and does not appear directly in a standard worksheet for preparing financial statements.
Final Answer
d. Cash flow statement
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