Question

A 10-column spreadsheet used to draft a company's unadjusted trial balance, adjusting entries, adjusted trial balance, and financial statements, and which is an optional step in the accounting process, is a(n):

a) Income statement
b) Balance sheet
c) Worksheet
d) Cash flow statement

Answer 1

The spreadsheet in question is a worksheet used in accounting to draft financial information before finalizing financial statements.

Step-by-step explanation:

The spreadsheet you're referring to is called a worksheet. It is used in the accounting process as an optional tool to help organize a company's financial information. This worksheet typically includes a 10-column format that facilitates the drafting of the unadjusted trial balance, adjusting entries, adjusted trial balance, and the financial statements, which include the income statement, balance sheet, and sometimes the cash flow statement. It streamlines the process and assists in checking for errors before the financial statements are finalized.