A Chart of Accounts for a Business Firm

question 201

Multiple Choice

A chart of accounts for a business firm

• A)is a graph.
• B)indicates the amount of profit or loss for the period.
• C)lists the accounts in the ledger.
• D)shows the balance of each account in the general ledger.

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Definitions:

Igneous Rocks

Rocks formed through the cooling and solidification of magma or lava.

Sedimentary Rock

A type of rock that forms from the accumulation and cementation of mineral and organic particles, often in layered deposits.

Magma

Molten rock located beneath the surface of the Earth, which can form intrusive or extrusive igneous rocks upon cooling.

Metamorphic Rock

Rock that has undergone transformation in texture, mineralogy, or chemical composition due to high temperature and pressure.