A formal account that has columns for date, explanation, post reference, debit, and credit is called the
A) T account.
B) standard account form.
C) ledger.
D) chart of accounts.

Question

Quizplus · Accepted Answer

The standard account form typically includes columns for date, explanation, post reference, debit, and credit. The T account is a visual representation of an account that shows debits and credits, but does not typically include columns for specific information like date or explanation. The ledger is a collection of all accounts used by a business, and the chart of accounts is a list of those accounts.

A Formal Account That Has Columns for Date, Explanation, Post