1Z0-1054-25 practice question 20 of 25

You are reconciling your Payables and Receivables balances against the General Ledger. You are using the Payables to Ledger Reconciliation report. You notice discrepancies between the balances in the subledgers, subledger accounting, and general ledger. Which three factors are responsible for these out-of-balance situations?

Answer options

A: Intercompany transactions have not been fully processed. Correct answer

B: Period Close processes, such as Revaluation, Translation, and Consolidation have not been performed yet. Correct answer

C: There were manually entered journals against the Payables and Receivables accounts that were posted in General Ledger.

D: Subledger transactions have been accounted and transferred to General Ledger but have not been posted. Correct answer

E: All subledger transactions have been entered but do not have complete accounting.

Correct Answer:

A. Intercompany transactions have not been fully processed.; B. Period Close processes, such as Revaluation, Translation, and Consolidation have not been performed yet.; D. Subledger transactions have been accounted and transferred to General Ledger but have not been posted.

Explanation

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