A chart of accounts is:
A) a list of the significant and formal relationships and roles within a business organisation.
B) a list of all transactions in chronological order.
C) a list, in chronological order, of journal accounts used in an accounting system.
D) a list of the complete set of account titles and their related reference numbers.

Question

Quizplus · Accepted Answer

A chart of accounts is a list of all the account titles and their corresponding reference numbers used in an accounting system. It provides a systematic way to categorize and record financial transactions for a business. The chart of accounts is used to generate financial reports and helps ensure accurate and consistent accounting practices.

A Chart of Accounts Is