SOLVED: You are using both Procurement and Financials. You want the system to automat ...

You are using both Procurement and Financials. You want the system to automatically accrue un-invoiced receipts. Select two true statements.

For period end accruals, accounting is created at material receipt or at delivery to a final destination.

For period end accruals, the invoice accounting debits the expense account and credits the liability account.

For perpetual accruals, the invoice accounting debits the accrual account and credits the liability account.

For period end accruals, the invoice accounting for inventory items debits receipt inventory and credits the un-invoiced receipts.

Verified Answer

Correct Option - bc

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