A Numbering System for a Chart of Accounts

question 83

Multiple Choice

A numbering system for a chart of accounts

• A) is prescribed by GAAP.
• B) is uniform for all businesses.
• C) usually starts with income statement accounts.
• D) usually starts with balance sheet accounts.

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Definitions:

New York City

The largest city in the United States, located in the state of New York, known for its significant cultural, financial, and media impacts.

Thesis Statement

A concise summary of the main point or claim of an essay or research paper, typically presented at the end of the introductory paragraph.

Economic Downturn

A period when the economy as a whole is in decline, marked by reduced industrial activity, increased unemployment, and lower consumer spending.

Pink Slip

Informal term for the notice given to an employee signifying termination of employment.