An account is used as part of the recording process and is described by all EXCEPT which one of the following?
A) An account can have either a debit or credit balance.
B) An account is a source document.
C) An account may be part of a manual or a computerized accounting system.
D) An account has a title.

Question

Quizplus · Accepted Answer

An account is not a source document. Source documents are the initial records that contain the details of a transaction (like invoices, receipts, checks), while an account is a record in the accounting system that tracks the financial activities and balances for specific categories, such as cash, revenue, expenses, etc.

An Account Is Used as Part of the Recording Process