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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 61 times)

mikaylakyoung

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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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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
:D TYSM


31809pancho

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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