When Setting Up the Numbering System for a Company's Chart

question 160

Multiple Choice

When setting up the numbering system for a company's chart of accounts:

• A) the account numbers generally have four or more digits.
• B) asset accounts will begin with the number 5.
• C) revenue accounts will begin with the number 4.
• D) there cannot be a gap between account numbers.

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Definitions:

Self-justification

The cognitive process of rationalizing one's behavior, decisions, or beliefs in a manner that avoids admitting fault or error.

Self-view

How an individual perceives or regards themselves, encompassing self-image, self-esteem, and self-concept.

Procedural Knowledge

The type of knowledge that involves knowing how to do something, as opposed to knowing facts (declarative knowledge).

Long-term Memory

The aspect of our memory system that is capable of storing large amounts of information for potentially infinite durations, ranging from a few minutes to decades.