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Author Question: List the five steps in the process by which accounting provides information to ... (Read 58 times)

segrsyd

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on: Jul 5, 2018
List the five steps in the process by which accounting provides information to users.

Question 2

Taxes were levied in the General Fund during 20X8 . 157,700 of the taxes were still uncollectible as of the end of the fiscal year.
 
  The conversion worksheet adjustment necessary as the government-wide statements are being prepared would include a DEBIT to
  a. Deferred revenues
  b. Revenues
  c. Taxes receivable
  d. Other financing sources
  e. Allowance for doubtful accounts


frejo

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Reply #1 on: Jul 5, 2018
Answer to Question 1

1 . Identify users.
2 . Assess users' information needs.
3 . Design the accounting information system to meet users' needs.
4 . Record economic data about business activities and events.
5 . Prepare accounting reports for users.

Answer to Question 2

A


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