Your client is in the process of closing its first year-end. The client completed the accounting cycle and found that several income statement accounts have a remaining balance. What would be the likely cause of these remaining balances?
A. Natural accounts were defined with an incorrect account type.
B. Natural accounts were defined to not allow posting.
C. Natural accounts were defined to store both statistical and monetary values.
D. Natural accounts were defined as parent values.
Answer:A
Your client is in the process of closing its first year-end. The client completed the accounting cycle and found that several income statement accounts have a remaining balance. What would be the likely cause of these remaining balances?
A. Natural accounts were defined with an incorrect account type. B. Natural accounts were defined to not allow posting. C. Natural accounts were defined to store both statistical and monetary values. D. Natural accounts were defined as parent values.