Question 1 of 1 Which of the following statements are true? Select all that appl

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Question 1 of 1 Which of the following statements are true? Select all that apply and click on Submit Different companies will use different charts of accounts based on individual com pany need. The chart of accounts contains the balance of all the accounts in the ledger. The general ledger contains all of the accounts that a company uses, along with detail of the balances in those accounts. The general ledger and the chart of accounts can be ordered in any sequence because they are not formal financial systems submit answer&continue;

Explanation / Answer

Option 2 : Chart of account is listing of all account codes with name. The accounts listed may or may not have balance, so the given statement is false.

Option 1 , Option 3 & Option 4 representing the correct explanation of so these options are correct.

Answer = True statements are as belwow,

Option 1.

Option 3

Option 4

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