ABC Inc.’s calendar is the fiscal year. They also use Average Balance Processing.
ABC’s accrual category is defined with AutoReversal, with the reversal period as the next day, and
an effective date rule of roll. An accrual journal entered on 29-Apr-05 will be reversed on the
_____.
A.
first day of the next period
B.
next day in the same period
C.
next business day in the same period
D.
next business day in the same period or the next period, based on the transaction calendar