T-accounts are frequently used in textbooks, demonstration problems, and examinations to accumulate information about the effects of business transactions on individual balance sheet accounts and to prepare the balance sheet.Alternatively, to accomplish the same objectives, some instructors and students might prefer to use
A)a computer spreadsheet program.
B)P-accounts, only.
C)a single-entry bookkeeping system.
D)P&L-accounts.
E)L-accounts, only.

Question

Quizplus · Accepted Answer

A computer spreadsheet program can also accumulate information about the effects of business transactions on individual balance sheet accounts and prepare the balance sheet. It is a more efficient and flexible method.

T-Accounts Are Frequently Used in Textbooks, Demonstration Problems, and Examinations