Question

Select the type of accounts which a chart of accounts can contain

1) Assets

2)Liabilities

3) Expense

4)Income

a) 2,3,4

b) 1,2,3

c) 1,2,3,4

d) None

Answer 1

c) 1,2,3,4

Assets, liabilities, Expense and Income are the typeof accounts which a chart of accounts can contain