Multiple choice

Which of the following is the segmentation of Liabilities & Assets of Balance Sheet and Income& Expenses of Profit & Loss Accounts?

  1. Account Groups

  2. Legders

  3. Trial Balance

  4. Chart of Accounts

  5. Account Book
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D Correct answer
Explanation

Chart of Accounts is the segmentation of Liabilities & Assets of Balance Sheet and Income & Expenses of Profit & Loss Accounts. It represents the hierarchical view of organization of Account Groups & Ledger Accounts.

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