Question

A chart of accounts __________. options: is set up in alphabetical order includes account balances is a listing of all the accounts used by a company All of the above answers are correct.

Answer 1

All of the above

Answer 2

A chart of accounts is a listing of all accounts used by a company. The listings are numbered in no particular order but show all of the accounts the company uses to help run theirs. Each lets you know whether it has a debit or credit monetary effect on the business and an explanation of exactly what the account purpose is.