Ch #4 Name MULTIPLE CHOICE QUESTIONS The adjustments entered in the adjustments columns of a workshet are a. not journalized b. posted to the ledger but not journalized C. not journalized until after d. journalized before the worksheet is completed. 1. the financial statements are prepared. The informmation for preparing a trial balance on a workshet is obasined form a. financial statements. 2. general ledger accounts. c. general journal entries. d. business documents. After the adjusting entries are journalized and posted to the accounts in the general ledger, the balance of each account should agree with the balance shown on the a. adjusted trial balance. b. post-closing trial balance. c. the general journal. d. adjustments columns of the worksheet. 4. A worksheet is a multiple column form that facilitates the a. identification of events. b. measurement process. C. preparation of financial statements. d. analysis process. 5. The account, Supplies, will appear in the following debit columns of the worksheet. a. Trial balance b. Adjusted trial balance C. Balance sheet d. All of these Closing entries are made a. in order to terminate the business as an operating entity b. so that all assets, liabilities, and owner's capital accounts will have zero balances when the 6. next accounting period starts. c. in order to transfer net income (or loss) and owner's drawing to the owner's capital account. d. so that financial statements can be prepared. 7. In order to close the owner's drawing account, the a. income summary account should be debited. b. income summary account should be credited. c. owner's capital account should be credited. d. owner's capital account should be debited