Transactional data is summarised by account code in the general ledger.The codes are then used in the reporting structure.What is the name given to the list of available codes?
A)List of account codes
B)Chart of accounts
C)Table of accounts
D)Reporting account codes

Question

Quizplus · Accepted Answer

The name given to the list of available codes is Chart of Accounts. A chart of accounts is a systematic list of all ledger account names and their corresponding identification codes used in a company's accounting system. It provides a complete listing of every account in the accounting system, allowing for smooth daily and annual operations.

Transactional Data Is Summarised by Account Code in the General