COST ACCOUNTING
COST MANAGEMENT SYSTEMS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Sub ledger accounting is set up to accomplish this out-of-the-box.
|
|
|
Line Type must be set to Freight.
|
|
|
Account Class must be set to Freight.
|
|
|
Create a condition for a journal line for freight.
|
Detailed explanation-1: -Transaction Objects. Transaction objects refer to the tables or views from which the Create Accounting program takes the source values to create subledger journal entries.
Detailed explanation-2: -Freight account is hence classified as a nominal account.
Detailed explanation-3: -The three components of accounting systems are identification, measurement and communication. The three basic elements of all accounting systems support a standardized framework for recording and conveying information.
Detailed explanation-4: -Journal entry rule set like a grouping component which groups all the other definitions that you might have defined under a subledger application. The Journal Line Rules defines the debit and credit side of the journal entry.