A Chart of Accounts Is A

question 61

Multiple Choice

A chart of accounts is a:

• A) planning device used by management to anticipate information flows through the accounting system.
• B) list of accounts receivable.
• C) chart showing the organisational structure of the firm.
• D) plan of the ledger listing account titles and their related numbers.

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Definitions:

Utility

In economics, the total satisfaction received from consuming a good or service.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay.

Marginal Utility

The extra pleasure or benefit a customer receives from purchasing an additional unit of a product or service.

Total Utility

The total satisfaction or benefit obtained from consuming a particular quantity of goods or services.