Author Question: The chart of accounts is designed to a. alphabetize the accounts to make reading easier for ... (Read 42 times)

tiara099 · **on:** Jul 5, 2018

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

Question 2

Investment earnings of 1,250 were earned on restricted investments. The earnings are to be used for various research projects during the current year. The earnings would be reported as

A. Unrestricted revenues.
B. Temporarily restricted revenues.
C. Permanently restricted revenues.
D. General interest revenue.