A Chart of Accounts Is

question 156

Multiple Choice

A chart of accounts is

• A) the same as a balance sheet
• B) usually a listing of accounts in alphabetical order
• C) usually a listing of accounts in financial statement order
• D) used in place of a ledger

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Definitions:

Noncash Assets

Assets that are not in the form of cash or cash equivalents, such as property, plant, and equipment.

Share Income

Share Income describes the earnings attributed to shareholders from their investment in shares, typically expressed through dividends.

Partnership Terminated

The dissolution of a business partnership through the exit of one or more partners or by mutual agreement.

Agreement

A mutual arrangement, contract, or understanding between parties outlining their rights and responsibilities.