Oracle
1Z0-1074-20 · Question #32
You have configured your expense items to accrue at receipt. You have created a few purchase orders and want to verify that the supplier invoices have been created. Which accounting entries signal…
The correct answer is A. Debit Charge Account (expense or inventory), Credit Receiving Inspection. Explanation/Reference:
Process Cost Transactions
Question
You have configured your expense items to accrue at receipt. You have created a few purchase orders and want to verify that the supplier invoices have been created. Which accounting entries signal this process has taken place?
Options
- ADebit Charge Account (expense or inventory), Credit Receiving Inspection
- BDebit Accrued Liability, Credit Accounts Payable
- CDebit Receiving Inspection, Credit Accrued Liability
- DDebit Expense, Credit Receiving Inspection
- EDebit Expense, Credit Expense Accrual
How the community answered
(56 responses)- A84% (47)
- B9% (5)
- C2% (1)
- D2% (1)
- E4% (2)
Explanation
Explanation/Reference:
Topics
#expense accrual#receipt accounting#accounting entries#accrued liability
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