An individual accounting record for a specific asset, liability or shareholders' equity item is called an account.

Name: An individual accounting record for a specific asset, liability or shareholders' equity item is called an account.
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An account in accounting is indeed an individual record that tracks all transactions related to a specific asset, liability, or shareholders' equity item, summarizing the effects on that specific item over a period of time.

An Individual Accounting Record for a Specific Asset, Liability or Shareholders