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NEW QUESTION 25
'Insurances for Homes' company provide home insuranceservice. They have in-house built system that processes home insurance payments received from customers. The end result of the process consists of a listing of individual journal entries in a spreadsheet. They have requirements for getting all journal entries in a secure and auditable repository. Access will be limited to selective staff members. Additionally, be able to report and view the entries using an advanced reporting and analytical tools for slicing and dicing the journal entries.
Insurance premiumIs to be recognized as income across the coverage period of the insurance policy. What are the two types of journal lines that need to be set up to generate recurring journal entries for insurance premium in each accounting period?
Answer: C
NEW QUESTION 26
While creating a journal entry rule set you are NOT able to use an account rule that was created recently.
Which two reasons can explain this?
Answer: A,C
NEW QUESTION 27
What attribute of a subledger journal entry is NOT transferred to GL?
Answer: C
NEW QUESTION 28
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