A Chart of Accounts Is

question 109

Multiple Choice

A chart of accounts is:

• A)a list of all of the accounts of the organization.
• B)a source document.
• C)prepared as the first step in analyzing transactions.
• D)a list of all of the accounts of the organization and their related account numbers.

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Definitions:

Bearer

An individual in possession of an instrument, such as a check or bond, that is payable to whoever holds it.

Negotiable Instrument

A paper that assures the payout of a certain sum of money, either when requested or at a predetermined time, with the document specifying the person responsible for payment.

Holder In Due Course

A legal term for a person who has obtained a negotiable instrument in a valid manner and has certain protections against defenses and claims that could be asserted against the original party.

Certainty Of Payment

The assurance or guarantee that payment will be made, often a crucial consideration in financial transactions and agreements.