|Chart of Accounts #1||Open|
1) A __________ of accounts is a listing of the accounts to which transactions can be posted.
2) The chart of accounts contains the account names and account numbers for the following types of accounts: ____________ sheet accounts and income statement accounts.
3) The chart of accounts contains the accounts in the company's ___________ ledger.
4) A contra-asset account will have a _____________ balance.
5) Asset accounts will normally have ___________ balances.
6) Inexpensive accounting ______________ comes with charts of accounts already setup for various types of companies.
7) Interest Expense and Interest Revenue/Income accounts are classified as 'Other' or 'Non-_____________________.'
8) Account ____________ are not part of a chart of accounts.
9) Unearned Revenues and Customer Deposits are _______________ accounts.
10) Interest owed on Notes Payable will be recorded as a credit in ______________ Payable.
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