The chart of accounts is a tabular record in which business activities are analyzed in terms of debits and credits and recorded in chronological order.

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The chart of accounts is a listing of all accounts used in the general ledger of an organization, not a record of transactions in chronological order. Transactions are recorded in journals, using debits and credits, and then summarized in ledgers, not in the chart of accounts.

The Chart of Accounts Is a Tabular Record in Which