Which of the Following Best Describes the Operative Chart of Accounts

question 22

Multiple Choice

Which of the following best describes the operative chart of accounts?

• A)Contains the operational accounts that are used to record the financial impact of an organization's day-to-day transactions
• B)Used to enable companies to meet special country-specific reporting requirements
• C)Contains accounts that are used by multiple companies to consolidate their financial reporting
• D)Contains only accounts payable transactions
• E)Contains only accounts receivable transaction