Which account types are typically listed in the Chart of Accounts?

• A. Revenue, Costs, Loans, Equities
• B. Inventory, Expenses, Liabilities, Cash
• C. Assets, Liabilities, Income, Expenses
• D. Assets, Liabilities, Equity, Revenue

Answer: (C)

In a Chart of Accounts, accounts are grouped into categories that align with financial reporting. The main blocks you’ll see are assets and liabilities on the balance sheet, and income (revenue) and expenses on the income statement. This structure lets you track what the company owns and owes, as well as what it earns and spends over a period.

The option that lists assets, liabilities, income, and expenses fits this structure because it covers both sides of the typical financial statements: a balance-sheet side with assets and liabilities, and an income-statement side with income (revenue) and expenses. Equity is also a common category in many COAs, but the four categories above represent the core reporting areas that most charts start with, making this choice the best fit among the options.