A chart of accounts:
A)is where transactions are initially recorded.
B)is where transactions are posted to after they are initially recorded.
C)serves as an index to the ledger, with each account numbered to facilitate frequent references that are made to it.
D)is the same as a T-account, with debits on the left and credits on the right.

Question

Quizplus · Accepted Answer

A chart of accounts is a listing of all accounts used by a company, each with a unique number, serving as an index to the ledger.

A Chart of Accounts