When the multi-period accounting process is later submitted, a portion of the total expenses is recognised and is then transferred to the actual expense account from the accrual account.
When the multiperiod accounting process is submitted, what happens?
A portion of the total expenses is recognized and moved from the accrual account to the actual expense account. A portion of the total expenses is recognized and moved from the accrual account to the actual expense account. A portion of the total expenses is recognized and moved from the accrual account to the actual expense account.