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.
The correct answer is B. The Retained Earnings G/L account(s) are updated for the gain or loss. C. For each account that has Income Statement selected in the Income/Balance field, an entry is posted. Exam Questions, Study Guides, Practice Tests. Lead the way to help you pass any IT Certification exams, 100% Pass Guaranteed or Full Refund. Especially Cisco, CompTIA, Citrix, EMC, HP, Oracle, VMware, Juniper, Check Point, LPI, Nortel, EXIN and so on. Our Slogan: First Test…
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
How the community answered
(34 responses)- A18% (6)
- B74% (25)
- D9% (3)
Explanation
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