A chart of accounts is
A) a T-account containing all business assets.
B) a numerical listing of all the accounts of a business.
C) prepared from the transactions in the general journal.
D) the same accounting document as the general ledger.
E) the listing of the financial statements that must be prepared by a business.

Question

Quizplus · Accepted Answer

A chart of accounts is essentially a numerical listing of all the accounts of a business, organizing and simplifying the structure of financial information for reporting and analysis purposes. It does not contain transactions or financial statements but serves as an organizational tool.

A Chart of Accounts Is