The Chart of Accounts Is a List of All the Accounts

question 36

True/False

The chart of accounts is a list of all the accounts used by a company and includes an identification number assigned to each account.

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Definitions:

Return on Total Assets

Return on Total Assets (ROTA) is a financial ratio that measures a company's profitability relative to its total assets.

Income Statement

A financial statement that shows the company's revenues and expenses over a specific period, leading to its net income or loss.

Net Profit Margin Percentage

A financial metric indicating the percentage of revenue that remains as net income after all expenses are deducted.

Income Statement

A financial document that shows a company's income, expenses, and net profit over a specified period.