This topic contains a solution. Click here to go to the answer

Author Question: Month-end postings to control accounts in a computerized accounting system are notrequired because ... (Read 175 times)

arivle123

  • Hero Member
  • *****
  • Posts: 569
Month-end postings to control accounts in a computerized accounting system are notrequired because
 a. control accounts are not used in computerized systems
  b. transactions are posted to accounts immediately
  c. the input operator can choose to post to accounts at any time
  d. transactions are posted at the end of the financial year

Question 2

Which of the following best describes standards for reporting expenses by function (such as instruction and research) or by natural classification (such as salaries and supplies) in the statement of activities prepared by colleges and universities
 
  a. all expenses must be reported by function on the face of the statement.
  b. all expenses must be reported by natural classification on the face of the statement.
  c. they may report by either method on the face of the statements; if they report by natural classification on the face, they must report functional expenses in the notes.
  d. colleges and universities may report by either method on the face of the statement.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

SVictor

  • Sr. Member
  • ****
  • Posts: 365
Answer to Question 1

b

Answer to Question 2

c




arivle123

  • Member
  • Posts: 569
Reply 2 on: Jul 5, 2018
:D TYSM


kusterl

  • Member
  • Posts: 315
Reply 3 on: Yesterday
Wow, this really help

 

Did you know?

More than 150,000 Americans killed by cardiovascular disease are younger than the age of 65 years.

Did you know?

Only 12 hours after an egg cell is fertilized by a sperm cell, the egg cell starts to divide. As it continues to divide, it moves along the fallopian tube toward the uterus at about 1 inch per day.

Did you know?

Alzheimer's disease affects only about 10% of people older than 65 years of age. Most forms of decreased mental function and dementia are caused by disuse (letting the mind get lazy).

Did you know?

There are approximately 3 million unintended pregnancies in the United States each year.

Did you know?

Less than one of every three adults with high LDL cholesterol has the condition under control. Only 48.1% with the condition are being treated for it.

For a complete list of videos, visit our video library