Question
To Determine the scope of a bookkeeping clean-up engagement, you are reviewing the client overview tab for a protentional client. You notice that there is
To Determine the scope of a bookkeeping clean-up engagement, you are reviewing the client overview tab for a protentional client. You notice that there is a large amount in the Opening Balance Equity account. Which 2 reasons could be causing this balance? - An opening balance was entered when an inventory item was created - An opening balance was entered when setting up sales tax - An opening balance was entered when creating a new other current asset account - A reconcilation adjustment was posted when completing a bank reconciliation - Transactions in the banking center were added without assigning an account to them.
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