A company's list of accounts and the identification numbers assigned to each account is called a:
A)Source document.
B)Journal.
C)Trial balance.
D)Chart of accounts.
E)General Journal.

Question

Quizplus · Accepted Answer

The chart of accounts is a listing of all accounts used in the general ledger of a company. Each account is assigned a unique identification number in the chart of accounts. Option A, source document is a document that provides evidence of a transaction, such as an invoice or receipt. Option B, journal is a record of all transactions in chronological order. Option C, trial balance is a report that lists all accounts and their balances to ensure that total debits and credits are equal. Option E, general journal is a primary accounting record where all financial transactions are initially recorded.

A Company's List of Accounts and the Identification Numbers Assigned