Answer:

>>> Economy

No, the balance sheet section of a worksheet should always be balanced by definition. A balance sheet reports a company's assets, liabilities, and equity, and it must always balance, meaning that the total assets must equal the total liabilities and equity.

Explain: The purpose of a worksheet is to provide a preliminary framework for preparing financial statements. It helps ensure that all transactions are properly recorded, all adjusting entries are made, and the resulting financial statements are accurate. If the balance sheet section of the worksheet is unbalanced, it indicates an error in the accounting records or in the preparation of the worksheet, which needs to be identified and corrected before preparing the final financial statements.

• 7 March 2023