After you import the Chart of Accounts, you edit the _____and ________accounts to add Opening Balances and as of dates.
A)Asset and Liability
B)Asset and Income
C)Liability and Expense
D)Income and Expense

Question

Quizplus · Accepted Answer

Asset and Liability accounts are edited to add Opening Balances and as of dates because these balances are essential for accurately reflecting the financial position of a business at the start of its accounting period.

After You Import the Chart of Accounts, You Edit the _____And