Microsoft
MB7-701 · Question #95
What is the result when you post the journal that was created by the Close Income Statement batch job? Choose the 2 that apply.
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Question
What is the result when you post the journal that was created by the Close Income Statement batch job? Choose the 2 that apply.
Options
- AThe control accounts for the subsidiary ledgers are blocked, preventing additional activity from being
- BThe Retained Earnings G/L account(s) are updated for the gain or loss.
- CFor each account that has Income Statement selected in the Income/Balance field, an entry is posted
- DFor each account that has Income or Expense selected in the Income/Balance field, an entry is
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Topics
#Close Income Statement#journal posting#Retained Earnings#income accounts