What are the mandatory accounts that need to be setup in
Set of Books?
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Answer / shantanu
The first mandatory account is Retained Earnings Account.
But based on other Standard Options selected, the other
mandatory accounts are,
a. Suspense Account
b. Rounding Differences Account
c. Cumulative Translation Adjustment Account
d. Reserve for Encumbrance Account
e. Net Income Account
| Is This Answer Correct ? | 4 Yes | 2 No |
Answer / kishore
retained earnings account
transaction adjustment account
suspense account
net income account
rounding differences account
reserve for encumberance account
| Is This Answer Correct ? | 4 Yes | 2 No |
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