The Chart of Accounts

question 31

Multiple Choice

The chart of accounts

• A) is a numbered list of all of the business' accounts.
• B) allows accounts to be balanced more accurately.
• C) can be expanded as the business grows.
• D) A and C are correct.

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Definitions:

Punishable by Death

Certain crimes or legal offenses deemed so severe that they carry the death penalty as a potential form of punishment.

Glorieta Pass

A significant site of the American Civil War, located in New Mexico; it was the scene of a decisive battle in 1862.

Union Victory

The term refers to the triumph of the Northern states, the Union, over the Confederate states in the American Civil War, leading to the preservation of the United States and the abolition of slavery.

Slavery

A system in which individuals are owned by others, deprived of personal freedom, and forced to perform labor or services against their will.