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What is chart of account and how many charts of accounts can
be assigned to a company?
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Answer Posted / thomas
chart of accounts is a varient contain list of gl to find
the head of the gl.income, exp, assets, liabilities.for
liabilites v create current liabilities, creditors,loan ,
bills payable. for assets fixed asset, current asset,bills
receivable,debtors and missllonus exp. so definding upon
the company we assign chart of accounts
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