I thought a drywall square would be well square. Found out different mine is out about a 1/16 over the 4' length.
Most are. You may get lucky and a brand new one is square but it's stay that way long. Measure 40" up aboth ends. Lay your square on the short side, on the mark and draw a line. Do this from both sides. Very rarely will those lines meet in the center of the sheet. But it's drywall and gets mud and finished.
You could use a chalk line but most Drywaller's just use their tape measure. Pull it too desired measurement say 10" for a 38" wide piece. Use your knuckle at that measurement on the edge of the sheet and your knife at the end of the tape. So the tape is stretched out and will be your guide for your "RIP" cut. Now run it down the length of the sheet. Now you'll have a 38"x96" piece of rock.
Similar to how that drywall knife from Canada is designed to cut.
Ps, if you do use a chalk line don't use red. It WILL show through your painted finish.