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Theaccount chart should be carefully designed because:
The
account chart should be carefully designed because:
Itwill greatly improve the quality of financial reports that are produced.
It
will greatly improve the quality of financial reports that are produced.
Theentire organization has only one chart of accounts.
entire organization has only one chart of accounts.
Oncedesigned it cannot be changed.
Once
designed it cannot be changed.
Thereis a limit to the number of subcategory accounts that can be used.
There
is a limit to the number of subcategory accounts that can be used.
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