Question: 1. A work sheet is prepared A. from [date] to [date]. B. for the [period] ended [date]. C. at any time in the accounting period.

1. A work sheet is prepared

A. from [date] to [date].

B. for the [period] ended [date].

C. at any time in the accounting period.

D. always on December 31.

2. In journalizing adjusting entries, Merchandise Inventory is credited for the amount of ending inventory.

A. True

B. False

3. At the end of the accounting period, the merchandise inventory account is credited for the beginning inventory amount.

A. True

B. False

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