Working paper entries normally a Are posted to the general l

Working paper entries normally:

a. Are posted to the general ledger accounts only when the trial balance approach is used b. Are posted to the general ledger accounts only when the financial statement approach is used c. Do not affect the general ledger accounts of any of the affiliated companies d. Are posted to the general ledger accounts of one or more of the affiliated companies

Solution

Correct answer is option C.Do not affect the general ledger accounts of any of the affiliated companies

Working paper entries do not affect the general ledger accounts of any of the affiliated companies,they are just uses to summerises the year end accounting process.