Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 38 - No. 8)
What is the purpose of a chart of accounts?
To list all of a company's assets.
To provide a systematic listing of all accounts used by a company.
To show how a company's cash flow changes.
To calculate a company's net income.
Explanation
A chart of accounts provides a listing of all accounts used by a company's accounting system.
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