By maintaining a well-defined, complete chart of accounts, an organization minimizes the related risk of:
A)Fraud and errors
B)Invalid general ledger postings
C)Theft and fraud
D)Amounts posted to wrong accounts

Question

Quizplus · Accepted Answer

By maintaining a well-defined, complete chart of accounts, an organization can reduce the risk of posting incorrect amounts to wrong accounts. However, fraud and errors, invalid general ledger postings, and theft and fraud can still occur even with a well-defined chart of accounts.

By Maintaining a Well-Defined, Complete Chart of Accounts, an Organization