In the Receivables Module Window,you Can Add Shortcuts -

question 36

Multiple Choice

In the Receivables module window,you can add shortcuts -

• A)only for the general journal and payables journals
• B)only for purchase invoices and payments
• C)only for the general journal and the chart of accounts
• D)for up to ten different journals or ledger functions

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Definitions:

Nominal Accounts

Accounts that are closed at the end of each accounting period, including revenue, expense, and withdrawal accounts.

Temporary Accounts

Accounts used to track transactions in a single accounting period, which are closed and transferred to permanent accounts at the end of the period.

Income Summary

An account used in the closing process that summarizes the revenue and expenses of an accounting period to determine the net income or loss.

Capital Account

An account showing the net worth of a business at a specific point, calculated as assets minus liabilities and preferred stock.