Once You Create a Chart, It Cannot Be Changed to Another

question 527

True/False

Once you create a chart, it cannot be changed to another type of chart.

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Definitions:

Allowance for Doubtful Accounts

A contra asset account used to estimate the portion of a company's accounts receivable that may not be collected.

Bad Debt Expense

A projected expense reported by companies accounting for receivables that are expected to remain uncollected.

Pre-Reconciliation Cash Balance

The initial cash balance reported before adjustments are made for reconciling items in the preparation of a bank reconciliation.

Outstanding Checks

Checks that have been written and recorded in the issuer's account but have not yet been cashed or deposited by the recipient.