A.Journalizing the business transactions
B.Preparation of a trial balanc
C.Posting of journal entries to ledger accounts
D.Foundation of a business
The double-entry accounting system records each transaction twice.()
A.When the petty cash fund is initially establishe
B.On the date the petty cash funds are disburse
C.When the petty cash fund is replenishe
D.Only at the end of the accounting periods.
Which of the following correctly reflects what this change represents and how it should be applied?
A.It is a change of accounting policy and must be applied prospectively
B.It is a change of accounting policy and must be applied retrospectively
C.It is a change of accounting estimate and must be applied retrospectively
D.It is a change of accounting estimate and must be applied prospectively