cACG 2021:00 A t Print View Question 1 of Which of the following statements are

Question

cACG 2021:00 A t Print View Question 1 of 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 company 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 O a 2 3 5 6

Explanation / Answer

True statements: Different companies will use different chart of accounts based on individual company need The general ledger contains all of thte accounts that a company uses, along with detail of the balances The general ledger and the chart of accounts can be ordered in any sequence because they are not formal financial systems.

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