Final answer:
Completeness in a Chart of Accounts (COA) refers to answering the five questions of who, what, where, when, and why. By answering these questions, the COA becomes complete and provides a comprehensive overview of the financial transactions and accounts of a business.
Step-by-step explanation:
Completeness in a COA (Chart of Accounts) refers to answering the five questions of who, what, where, when, and why. These questions help ensure that all necessary information is included in the COA.
For example, in a business setting, the COA should include information about the parties involved (who), the types of transactions and accounts (what), the locations or departments (where), the time period covered (when), and the purpose or objectives (why).
By answering these questions, the COA becomes complete and provides a comprehensive overview of the financial transactions and accounts of a business.