Weegy: Permanent record? False. It's a WORKSHEET. It's used as an aid to make adjusting entries and close the books at the end of a financial period. The financial statements are the permanent records; the worksheet isn't.
I don't even use them anymore. [ That was back when things were done on paper. It's still useful as a teaching tool for accounting students though. After one knows 'what's going on' with adjusting entries, one really doesn't ... (More)