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Author Question: If the depositor's book balance is not the same as the bank's book balance, an error has occurred. ... (Read 60 times)

mikaylakyoung

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on: Jul 5, 2018
If the depositor's book balance is not the same as the bank's book balance, an error has occurred.
 a. True
   b. False
   Indicate whether the statement is true or false

Question 2

Explain the difference between accruals and deferrals.
 
  What will be an ideal response?


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lucas dlamini

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Reply #1 on: Jul 5, 2018
Answer to Question 1

False

Answer to Question 2

An accrual is a transaction in which the action comes before the exchange of cash. A deferral, on the other hand, is a transaction in which the exchange of dollars comes before the action. Adjustments are made at the end of the period to account for the presence of accrual and deferrals.


mikaylakyoung

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Reply 2 on: Jul 5, 2018
Gracias!

jomama

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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