Which of the Following Is $\bold{not}$ TrueAccount Names in the Chart of Accounts Have to Be

question 69

Multiple Choice

Which of the following is $\bold{not}$ true.Account names in the chart of accounts have to be:

• A)sufficiently descriptive to enable users to quickly understand items.
• B)consistent throughout the financial statements and records.
• C)linked to account numbers.
• D)general purpose and do not have to indicate the nature of the account.

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Definitions:

Liabilities

Economic obligations or debts that a business owes to external parties, which can include loans, accounts payable, mortgages, and other financial obligations.