Professor Drebin's Executive MBA students were recently discussing the benefits of a chart of accounts.  Following is a transcript of...

Professor Drebin's Executive MBA students were recently discussing the benefits of a chart of accounts.  Following is a transcript of the discussion.  Most of the comments were correct, but two students were off base.  Assume the role of Professor Drebin, and identify the two students whose statements are incorrect.  Record your answer in Blackboard.