A Chart of Accounts Is

question 110

Multiple Choice

A chart of accounts is

• A) is only necessary for manual systems.
• B) used only in companies with a complex business structure.
• C) the first step in designing an accounting system.
• D) a relatively simplistic way of classifying accounts.

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Definitions:

Revolution

A fundamental and relatively quick change in political power or organizational structures that takes place when the population revolts against current authorities, often leading to significant societal transformation.

Republicanism

A political ideology centered on citizenship in a state organized as a republic under which the people hold popular sovereignty.

Political Advantages

The benefits or leverage that a person, party, or state acquires which can be used to influence political outcomes or gain power.