Financial Closing Quiz 3- (Book 4)

How many separate intervals are there to control open posting periods?

What is the main difference in posting a manual accrual document compared to other manual transactions?

Accruals and deferrals can be posted manually and automatically

You must create accruals when an expense or revenue will be received in the future but it is incurred or earned in the current period.

The recurring entry batch input session will update the next run on date and create actual postings.

The balance carry forward does which of the following? (four correct)

Reporting on an extension ledger always includes the data of the underlying ledger.

Extension ledgers can have their own posting period variant.

Ledger groups containing one ledger are automatically created when a ledger is created.

A company can create ledger groups that include specific ledgers.