In a basic chart of accounts, each account number has two digits. The first digit indicates the major account group to
which the account belongs. Which of the following correctly identifies the major account groups typically represented
by the numbers 1 through 5?
a. 1-Assets, 2-Liabilities, 3-Owner's Equity, 4-Expenses, 5-Revenues
b. 1-Assets, 2-Liabilities, 3-Owner's Equity, 4-Revenues, 5-Expenses
c. 1-Assets, 2-Owner's Equity, 3-Revenues, 4-Expenses, 5-Drawings
d. 1-Owner's Equity, 2-Drawings, 3-Revenues, 4-Expenses, 5-Capital