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will be automatically graded as incorrect. Different companies use different charts of accounts based on individual company need. The chart of accounts contains the balance

will be automatically graded as incorrect.

Different companies use different charts of accounts based on individual company need.

The chart of accounts contains the balance of all of the accounts in a ledger.

The chart of accounts should be ordered in a logical sequence based on type of account.

The chart of accounts can be ordered in any sequence because they are not formal financial systems.

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