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Which statement is incorrect? 1) Stockholders equity is an account that is included in the chart of accounts. 2) New accounts can be added to

Which statement is incorrect?

1) Stockholders equity is an account that is included in the chart of accounts.

2) New accounts can be added to the chart of accounts.

3) A chart of accounts is a listing of accounts used by a business.

4) Account titles for the chart of accounts are used in general journal entries.

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