Which of the following is/are true regarding the T-account?
A)Actual practice does not use this form of the account, except perhaps for memoranda or preliminary analyses
B)looks like the letter T, with a horizontal line bisected by a vertical line.
C)satisfies the requirement of an account and is easy to use.
D)all of the above
E)none of the above

Question

Quizplus · Accepted Answer

Option A is not entirely true as some businesses may still use the T-account for recording transactions. 
Option B is correct as the T-account is named after its shape which resembles the letter T. 
Option C is also correct as it is a simple and effective way to keep track of transactions. Therefore, option D is the correct answer as all the options are true.

Which of the Following Is/are True Regarding the T-Account