No answer Question 12 Which 4 statements concerning the chart of accounts are true? (Select all that apply) To add a new account, open the Chart of Accounts by selecting Accounting from the left navigation bar, then selecting Now to open the Account window. The Product Revenue Sales account is a standard account when inventory is enabled. and Uncategorized Expenses are default accounts for online banking if you add a new account, the detail type determines which financial statement that account will appear on. Chart of Accounts You must deactivate a Chart of Accounts account if it is not relevant to your business Previous Next
The correct 4 points for the chart of accounts are
1, 3, 4 and 5
Because the 2nd point talks about the sale of the income of the product
accounts, which is not linked to the chart of accounts and point 6
says we should keep the unwanted account inactive if the
unrelated to the company, must therefore be closed
So since these two are wrong, the other four are correct.
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