Which Is the Correct Statement Concerning a Chart of Accounts

question 40

Multiple Choice

Which is the correct statement concerning a chart of accounts?

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

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Definitions:

Human Resources

The department within a business that is responsible for all things worker-related, including recruitment, training, and compliance.

Business Trip

is a journey undertaken for work-related purposes, often involving travel outside the regular workplace.

Workers' Compensation

An insurance type that offers employees medical benefits and replaces wages when they get injured while working.

Hotel Room

An accommodation provided by hotels, consisting of a room with sleeping facilities and often additional amenities, for the temporary stay of guests.