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A trial balance is prepared after posting is completed.
False
False
True
False
True
True
True
False
The work sheet is a working paper and is prepared in pen.
False
False
True
False
True
True
True
False
An error discovered before posting is usually corrected with a journal entry.
False
False
True
False
True
True
True
False
Preparing the work sheet is the sixth step in the accounting cycle.
False
False
True
False
True
True
True
False
A net loss decreases the balance in the owner's capital account.
False
False
True
False
True
True
True
False
All liability accounts are listed in the credit column of the Income Statement section.
False
False
True
False
True
True
True
False
A work sheet is prepared at the end of each fiscal period.
False
False
True
False
True
True
True
False
Amounts from the Trial Balance section are extended first to the Income Statement section.
False
False
True
False
True
True
True
False
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