Which list displays asset, liabilities, income, and expense accounts?

• A. General Ledger
• B. Chart of Accounts
• C. Balance Sheet
• D. Tax Codes

Answer: (B)

The Chart of Accounts is the listing that defines every account used in the system, organized by type (asset, liability, income, expense, etc.). This is where you see asset accounts like cash, liability accounts like loans payable, income accounts like sales revenue, and expense accounts like rent. This structure is what lets transactions be categorized correctly and drives financial reporting. Balance Sheet reports pull from asset and liability (and equity) accounts, while income and expense accounts feed into the income statement. The General Ledger records all transactions for each account, but it isn’t the predefined list of account categories. Tax Codes relate to taxation rules, not the accounting structure. So the Chart of Accounts is the list that displays those account types.