Which of the Following Statements Relating to a Chart of Accounts

question 50

Multiple Choice

Which of the following statements relating to a chart of accounts is correct?

• A) The accounts are listed in alphabetical order.
• B) It is a list of accounts and their current balances.
• C) It is created at the commencement of a business.
• D) It is the same for most businesses.

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Definitions:

Forged Signature

A signature that is fraudulently copied or imitated without the authorization of the person whose signature it purports to be, often intended to deceive or commit fraud.

Forgery

The false making or alteration of a writing with the intent to defraud.

Indorsed

Refers to the signing and passing of rights of a negotiable financial instrument to another party.

Indorsements

In finance, refers to the act of signing the back of a negotiable instrument, such as a check, thereby transferring ownership or authorizing another action related to the instrument.