COST ACCOUNTING
COST MANAGEMENT SYSTEMS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Your client has accounting rules that need specific customization. Which two options allow them to accomplish this?
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Copy and rename predefined subledger journal entry rule sets before modifying them.
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Use a different journal entry rule set for each ledger with a different accounting convention.
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The subledger journal entry rule set does not need the same accounting event class as the accounting method.
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Journal entry rule sets do not require accounting rules.
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The subledger journal entry rule set does not need the same accounting event type as the accounting method.
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Explanation:
Detailed explanation-1: -A journal line rule can be used in a subledger journal entry rule set that has the same event class. You may also assign conditions to the journal line rule.
Detailed explanation-2: -The following are the subcomponents of a subledger journal entry rule set: Description rules. Journal line rules. Account rules.
Detailed explanation-3: -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.
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