Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 39 - No. 11)
Which of the following statements are true about a 'chart of accounts'?
It is a list of all of a company's accounts.
It is used to classify and organize financial transactions.
It is the same as a general ledger.
It includes account numbers for each account.
Explanation
A chart of accounts is a structured list of all accounts used by a business and often includes numbers.
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