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22 September, 19:23

The chart of accounts is designed to Group of answer choices organize accounts in order of dollar amount to simplify the accounting information for users meet the information needs of a company's managers and other users of its financial statements summarize the transactions and determine ending account balances alphabetize the accounts to make reading easier for financial statement users ledgerizing

posting

summarizing

journalizing

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  1. 22 September, 19:33
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    Answer: The correct answer is "meet the information needs of a company's managers and other users of its financial statements".

    Explanation: The chart of accounts is a list that presents the accounts necessary to record the accounting facts. It is a systematic arrangement of all accounts that are part of an accounting system, in short, provides a basic structure for the organization of the accounting system, so it appears as a means to obtain information in a simple way.

    The chart of accounts is designed to meet the information needs of a company's managers and other users of its financial statements.
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