Which of the following statements about the default linked expense account for a supplier is incorrect
A)you can select an asset account as the linked account
B)the default account may be changed in the purchases journal
C)you must select an expense account as the linked account
D)the linked account is entered on the supplier's option tab input screen

Question

Quizplus · Accepted Answer

The statement "you must select an expense account as the linked account" is incorrect. It is possible to link a supplier's account to an asset account or a liability account depending on the nature of the transactions with that supplier.

Which of the Following Statements About the Default Linked Expense