A place or location within an accounting system in which the increases and decreases ina specific asset, liability, or equity item is recorded and stored is called a(n):
A)Journal.
B)Chart of accounts.
C)Ledger.
D)Trial balance.
E)Account.

Question

Quizplus · Accepted Answer

An account is a record within an accounting system where increases and decreases in a specific asset, liability, or equity item are recorded and stored.

A Place or Location Within an Accounting System in Which