InterviewSolution
Saved Bookmarks
InterviewSolution
| 1. |
What Are The Functionalities Available In The Financial Statement Version? |
|
Answer» In the financial statement version the most important functionality AVAILABLE is the debit credit shift. This is more important in case of Bank OVERDRAFT accounts which can have a debit balance or a credit balance. Thus in case of a debit balance you WOULD require the overdraft account to be shown on the Asset side. In case of credit balance you would require the account to be shown on the LIABILITY side. In the financial statement version the most important functionality available is the debit credit shift. This is more important in case of Bank overdraft accounts which can have a debit balance or a credit balance. Thus in case of a debit balance you would require the overdraft account to be shown on the Asset side. In case of credit balance you would require the account to be shown on the Liability side. |
|