Assume That You Are Creating a Chart of Accounts for a Company

question 113

Multiple Choice

Assume that you are creating a chart of accounts for a company. Each account number will have two digits. The first digit indicates the major account group to which the account belongs. Which of the following correctly identifies the major account groups typically represented by the numbers 1 through 5?

• A) 1-Assets, 2-Liabilities, 3-Owner's Equity, 4-Expenses, 5-Revenues
• B) 1-Assets, 2-Liabilities, 3-Owner's Equity, 4-Revenues, 5-Expenses
• C) 1-Assets, 2-Owner's Equity, 3-Revenues, 4-Expenses, 5-Drawing
• D) 1-Owner's Equity, 2-Drawing, 3-Revenues, 4-Expenses

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Definitions:

Pain Management

The practice of medicine and methodologies aimed at alleviating or reducing pain in patients through various treatments and therapies.

Rehabilitation

A program or process designed to help individuals recover from injury, disease, or addiction, aimed at restoring physical, sensory, and mental capabilities.

Diagnostic Testing

Medical tests and procedures used to determine the presence of a disease or the cause of certain symptoms in a patient.

Surgery

Medical procedure involving the incision with instruments; performed to repair damage or arrest disease in a living body.