The chart of accounts is a

a. group of accounts for a business.

b. list of the accounts in the ledger.

c. list of all the accounts with their balances.

d. list of all income and expense accounts.

Question

Peep

Business

22 March, 20:22

The chart of accounts is a

a. group of accounts for a business.

b. list of the accounts in the ledger.

c. list of all the accounts with their balances.

d. list of all income and expense accounts.

+1

Answers (1)

Know the Answer?

Megan Barr · Answer 1

b. list of the accounts in the ledger.

Explanation:

A chart of account (COA) is a listing of all the accounts that has been created by an entity to record its day to day financial transaction. The chart of accounts provides the account listings that made up the accounts in its ledger. it shows the account code (which may be alphabets, numbers or alphanumeric) and the account names.

The chart of accounts is aa. group of accounts for a business.b. list of the accounts in the ledger.c. list of all the accounts with their balances.d. list of all income and expense accounts.

The chart of accounts is a

a. group of accounts for a business.

b. list of the accounts in the ledger.

c. list of all the accounts with their balances.

d. list of all income and expense accounts.