In the Chart of Accounts,each Account Number Has Two Digits

question 196

Multiple Choice

In the chart of accounts,each account number has two digits.The first digit indicates the major account group to which the account belongs.Which of the following correctly identifies the major account groups typically represented by the numbers 1 through 5?

• A) 1-Assets,2-Liabilities,3-Stockholders' Equity,4-Expenses,5-Revenues
• B) 1-Assets,2-Liabilities,3-Stockholders' Equity,4-Revenues,5-Expenses
• C) 1-Assets,2-Stockholders' Equity,3-Revenues,4-Expenses,5-Dividends
• D) 1-Stockholders' Equity,2-Dividends,3-Revenues,4-Expenses,5-Common Stock

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Definitions:

Naked Eye

Refers to the observation of objects without the use of magnification instruments.

Lens Paper

A soft, lint-free paper used for cleaning the lenses of optical instruments without scratching them.

Lens Cleaner

A solution or substance specifically designed for cleaning the optical surfaces of lenses to remove dirt, dust, and fingerprints.

Disinfectant

A chemical agent used to destroy or inhibit the growth of harmful organisms on surfaces or objects.