A chart of accounts:
A)is used by an organization to determine the balance in all of their accounts.
B)lists all of the accounts of an organization in alphabetical order.
C)must be the same for all organizations.
D)lists all of an organization's accounts and account numbers.

Question

Quizplus · Accepted Answer

A chart of accounts is a list of all the accounts that an organization uses to record its financial transactions. It includes account names and numbers to ensure consistency in recording financial transactions. Therefore, option D is correct. Options A, B, and C are incorrect.

A Chart of Accounts