The Chart of Accounts Is

question 2

Multiple Choice

The Chart of Accounts is:

• A)a list of all the accounts the company uses when recording transactions.
• B)not one of the QBO Lists and is used to record transactions.
• C)not updated by the company; QBO support staff updates and initially sets up the Chart of Accounts with little input from the user.
• D)a financial statement prepared by the company at the end of an accounting year.

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Definitions:

Adjourning Stage

The final phase in group development where the group wraps up activities and the members go their separate ways.

Celebratory

Pertaining to or involving activities done in honor of an event or achievement.

Appreciation

An increase in the value of an asset over time.

Norming Stage

A phase in team development where members resolve conflicts, increase cohesiveness, and establish norms for teamwork.