Business, 28.11.2020 22:50 raivynvieu6605

To determine the scope of a bookkeeping clean-up engagement, you are reviewing the Client Overview tab for a potential client. You notice that there is a large amount in the Opening Balance Equity account. Which 3 reasons could be causing this balance?

(Select all that apply)

1. The client added transactions in the Banking Center without assigning an account to them

2. Opening balance for an inventory item was entered during the setup process

3. The client entered an Opening Balance when creating an Other Current Asset account

4. Opening balances were included when importing customers using the Import data tool

5. The client forced a bank reconciliation when the difference was not zero

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