TB MC Qu. 03-303 All of the following statements regarding...

All of the following statements regarding a work sheet are true except:

Multiple Choice

• A worksheet aids in the preparation of financial statements.

• A worksheet reduces possible errors when working with many accounts and adjustments.

• A worksheet is not useful in planning and organizing an audit of financial statements.

• A worksheet helps in preparing interim financial statements.

• A worksheet shows the effects of proposed or "what-if" transactions.