A well-designed chart of accounts will:
A)support key reporting requirements while minimising or even eliminating data entry error
B)support diverse reporting requirements while maintaining an acceptably low data entry error rate
C)contain more digits in general ledger account number
D)not include an indicator for every possible dimension that the transaction may conceivably need to be reported on

Question

Quizplus · Accepted Answer

A well-designed chart of accounts should support diverse reporting requirements while maintaining an acceptably low data entry error rate. It balances the need for detailed reporting with the practicality of data management.

A Well-Designed Chart of Accounts Will