A Chart of Accounts Is

question 133

Multiple Choice

A chart of accounts is:

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

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Definitions:

Speculative Investment

An investment with a high degree of risk, where the investor anticipates significant returns in exchange for the risk of losing most or all of the invested amount.

GAAP Accounting

Generally Accepted Accounting Principles, a set of rules and standards for financial reporting and accounting practices in the United States.

Unrealized Gain

The hypothetical profit on an investment that has not yet been sold, and thus, not yet converted into actual cash.

Hedged Item

An asset, liability, or planned transaction exposed to price risks that are offset by using a hedging instrument.