What is this called Chart of Account

To make sure your financial statements are accurate, the transaction need to be categorized. The framework used by Quickbooks ® to file your transactions is: The Chart of Account.

Q: What are the five types of accounts common to all business?

[wpspoiler name=”The accounts are” ]Profit and Loss: Income and Expenses
Balance Sheet: Asset, Liability and Equity[/wpspoiler]

Click here to read the explanation

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