The chart of accounts is a listing of the accounts presently having balances in the general ledger.

True or False?

Question

Subair P.K. · Answer

False.

Chart of account is listing of all account codes with name. The accounts listed may or may not have balance, thats doesnot matter here.

AHMAD OMAR CMA-CertIFR · Answer

FALSE.

the Chart of Accounts does NOT contain any entries or accounts balances.

the accounts with zero balances and NO entries are not included in the GL.

Omar Haymour · Answer

any given account in the chart of accounts does not have to have a balance in the trail Balance or the general ledger.