A simple account form widely used in accounting education to illustrate how debits and credits work is called a:
A)Ledger.
B)Balance column account.
C)T-account.
D)Capital account.
E)Withdrawals account.

Question

Quizplus · Accepted Answer

The T-account is a simple account form that consists of a T-shape and is commonly used to illustrate how debits and credits work in accounting. It helps to show the balance of a particular account and how transactions affect it. Ledgers, balance column accounts, capital accounts, and withdrawals accounts are all used in accounting, but they are not as commonly used to illustrate debits and credits as the T-account.

A Simple Account Form Widely Used in Accounting Education to Illustrate