The chart of accounts of a fast-food restaurant would probably include
A)a list of vendors.
B)a list of financial statement accounts.
C)a list of customers.
D)a list of employees.

Question

Quizplus · Accepted Answer

The chart of accounts is a listing of all the accounts in a general ledger used by the organization to record its financial transactions. In the case of a fast-food restaurant, the chart of accounts would likely include financial statement accounts such as revenue, cost of goods sold, payroll expenses, operating expenses, and so on. It would not include lists of vendors, customers or employees, as these are not considered accounts in the financial sense.

The Chart of Accounts of a Fast-Food Restaurant Would Probably