CAPM (Certified Associate in Project Management) Practice Exam

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What is a chart of accounts?

  1. A list of project team members

  2. The financial numbering system used to monitor project costs by category

  3. A project scheduling tool

  4. A risk management document

The correct answer is: The financial numbering system used to monitor project costs by category

A chart of accounts is a financial numbering system that is used to track and categorize a company's financial transactions. It is typically organized into different categories such as assets, liabilities, revenue, expenses, and equity. This allows businesses to easily monitor their financial performance and make informed decisions. Option A, a list of project team members, is incorrect as a chart of accounts is not related to personnel. Option C, a project scheduling tool, and option D, a risk management document, are also incorrect as a chart of accounts is specifically related to financial tracking and not project management or risk management.

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