An account is an individual record of increases and decreases in a specific asset, liability, or stockholders' equity item.

Name: An account is an individual record of increases and decreases in a specific asset, liability, or stockholders' equity item.
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Quizplus · Accepted Answer

An account is indeed an individual record that tracks all increases and decreases in a specific asset, liability, or stockholders' equity item, helping in the organization and reporting of a company's financial transactions.

An Account Is an Individual Record of Increases and Decreases