The first step in designing an accounting system is the creation of the
A) general ledger.
B) general journal.
C) trial balance.
D) chart of accounts.

Question

Quizplus · Accepted Answer

The first step in designing an accounting system is the creation of the chart of accounts. This is because the chart of accounts is the foundation of the accounting system, listing all the accounts that are available for recording transactions. It sets the structure for organizing financial information and facilitates the systematic recording and reporting of financial transactions.

The First Step in Designing an Accounting System Is the Creation