An abbreviated version of an account that is useful for analyzing the effects of business transactions is the
A)chart of accounts.
B)double-entry system.
C)T account.
D)trial balance.

Question

Quizplus · Accepted Answer

A T account is a simplified version of an account that allows for easy analysis of the effects of business transactions. It helps to visually represent the changes to a particular account and easily identify increases or decreases in that account. The other options mentioned (chart of accounts, double-entry system, trial balance) are important accounting tools but do not provide a simplified account for analysis purposes.

An Abbreviated Version of an Account That Is Useful for Analyzing