Which of the following statements is incorrect?
A) A chart of accounts is a listing of the accounts used by a business.
B) New accounts can be added to the chart of accounts.
C) Stockholders' Equity is an account that is included in the chart of accounts.
D) Account titles for the chart of accounts are used in general journal entries.
Correct Answer:
Verified
Q139: Posting
A) should be performed in account number
Q189: Equipment costing $20,000 is purchased by paying
Q190: The purpose of the ledger is to
A)record
Q191: The Unearned Service Revenue account is classified
Q193: An accounting record that includes a list
Q195: Typically the chart of accounts begins with
A)asset
Q196: Equipment costing $20,000 is purchased by paying
Q197: Which of the following accounts would likely
Q198: Which of the following accounts is an
Q199: A journal
A)contains only asset and liability accounts.
B)is
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