Grouping of Accounts means the classification of data from:
A)Assets, Capital, and Liabilities
B)Assets, Capital, Liabilities, Revenues & Expenses
C)Assets, Owners equity, Revenue & Expenses
D)Capital, Liabilities, Revenues, & Expenses

Question

Quizplus · Accepted Answer

Grouping of accounts refers to the classification of data into five main categories: Assets, Capital, Liabilities, Revenues, and Expenses. This classification is fundamental in accounting to organize financial information systematically.

Grouping of Accounts Means the Classification of Data From