The four-column account ________.
A) is an alternative to using the ledger
B) includes the Post. Ref. column which allows a user of the financial data to trace the amount in the journal back to the ledger
C) is not frequently used in practice because it provides less information than T-accounts
D) adds two additional columns that are used to determine a running balance

Question

Quizplus · Accepted Answer

The four-column account adds two additional columns (debit and credit) that are used to calculate a running balance. This format is commonly used for accounts such as bank accounts or accounts receivable.

The Four-Column Account ________