Answered: Generally, test of details of…

Generally, test of details of transactions is used when account balances are affected by large volumes of relatively immaterial transactions.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 1PB: Assuming the following account balances, what is the missing value?

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Generally, test of details of transactions is used when account balances are affected by large volumes of relatively immaterial transactions.

TRUE OR FALSE? WHY?

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