A list of the accounts used by a business is called the
A) journal
B) chart of accounts
C) T chart
D) debit listing

Question

Quizplus · Accepted Answer

A chart of accounts is a comprehensive listing of all accounts used by a business to track financial transactions. It provides a systematic way of organizing and categorizing financial information, which is necessary for keeping accurate records and producing financial statements. A journal is a record of all financial transactions in chronological order, a T chart is a tool used to analyze financial transactions, and a debit listing is a document that summarizes all debit transactions for a given period.

A List of the Accounts Used by a Business Is