The account current method in which the days are calculated from the date of transaction to the commencement date is known as ____________.

Forward method

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Epoch method

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Daily Balance Method

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Backward Method

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Solution

The correct option is C Epoch method
An Account Current is a statement of transactions which represents running transactions.
In this method, the number of the days are calculated from the opening date of account to the transaction date.
This method is also known as Periodic balance Method.

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The account current method in which the days are calculated from the date of transaction to the commencement date is known as ____________.

The correct option is C Epoch methodAn Account Current is a statement of transactions which represents running transactions.In this method, the number of the days are calculated from the opening date of account to the transaction date.This method is also known as Periodic balance Method.

The correct option is C Epoch method
An Account Current is a statement of transactions which represents running transactions.
In this method, the number of the days are calculated from the opening date of account to the transaction date.
This method is also known as Periodic balance Method.