COST ACCOUNTING
COST MANAGEMENT SYSTEMS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Event Class:Expense Accrual Event Type:Expense Accrual
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Event Class:Period End Accrual Event Type:Period End Accrual
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Event Class:Expense Accrual Event Type:Period End Accrual
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Event Class:Purchase Order Price Adjustment Event Type:Period End Accrual
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Event Class:Purchase Order Price Adjustment Event Type:Expense Accrual
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Detailed explanation-1: -Journal Entry For Accrued Expenses. An accrued expense journal entry is passed on recording the expenses incurred over one accounting period by the company but not paid actually in that accounting period. The expenditure account is debited here, and the accrued liabilities account is credited.
Detailed explanation-2: -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-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.
Detailed explanation-4: -The following are the subcomponents of a subledger journal entry rule set: Description rules. Journal line rules. Account rules.