The Chart of Accounts Is Designed to

question 118

Multiple Choice

The chart of accounts is designed to

• A) alphabetize the accounts to make reading easier for financial statement users
• B) organize accounts in order of dollar amount to simplify the accounting information for users
• C) summarize the transactions and determine ending account balances
• D) meet the information needs of a company's managers and other users of its financial statements

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Definitions:

Testing Plan

The part of the problem statement that lists specific input numbers the programmers would typically expect the user to enter; the plan then lists the precise output values that a perfect program would return for those input values.

Precise Output

The generation of exact results or outputs by a computer system or software, without any errors or approximations.

Web Applications

Software programs that run on a web server and are accessed through a web browser over the Internet.

Information Available

Refers to data or knowledge that is accessible and retrievable from a source, such as a database or the internet.