Author Question: After an accounting system has been set up, what is the next step? a. create the chart of accounts ... (Read 88 times)

formula1 · **on:** Jul 5, 2018

After an accounting system has been set up, what is the next step?
a. create the chart of accounts
b. obtain input from users to analyze and improve the system
c. implement analysis and design
d. set up internal controls

Question 2

The City of Albertville invests the assets of several neighboring cities through its Investment Trust Fund. What account should Albertville credit when it receives money from the neighboring cities for investment purposes?

a. Revenues
b. Additions contributions from city
c. Additions - revenues
d. Additions - net increase in fair value of investments