If the depositor's book balance is not the same as the bank's ...

[mikaylakyoung]

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?

[lucas dlamini]

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]

TYSM

[olderstudent]

Thanks for the timely response, appreciate it