Which of the Following Is a Correct Numbering System for a Chart

question 130

Multiple Choice

Which of the following is a correct numbering system for a chart of accounts?

• A) Accounts payable is numbered 153.
• B) Utilities expense is numbered 487.
• C) Accounts receivable is numbered 104.
• D) Sales revenue is numbered 809.

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Definitions:

Savings Rate

The proportion of income that is saved rather than spent over a specific period.

Economic Growth

The process by which the economic well-being and quality of life of a nation improve over time.

Mass Production

The manufacturing of large quantities of standardized products, often using assembly lines or automated technology, to achieve economies of scale.

Industrial Revolution

A period of major industrialization that took place during the late 1700s and early 1800s, characterized by the transition from manual production methods to machine-based manufacturing processes.