Which of the Following Is a Correct Statement About a Chart

question 170

Multiple Choice

Which of the following is a correct statement about a chart of accounts?

• A) It is used only by service corporations.
• B) It can be used to determine the balance in an account.
• C) It is a tool used by accountants to help prepare the financial statements.
• D) It lists the asset accounts first.

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Definitions:

Work Structure

The organized way in which tasks and responsibilities are distributed and coordinated within an organization or team to achieve specific objectives.

Job Depth

The degree of control, autonomy, and discretion that an employee has over their tasks and decision-making in their job.

Planning Responsibilities

Tasks and duties associated with the process of setting goals, developing strategies, and outlining tasks and schedules to accomplish the goals.

Managerial Delegation

The process by which managers assign tasks and authority to subordinates.