A tool that represents a ledger account and is used to show the effects of transactions is called a:
A)Dividends account.
B)Retained earnings account.
C)Trial balance.
D)T-account.
E)Balance column sheet.

Question

Quizplus · Accepted Answer

A T-account is a visual representation of a ledger account that shows the effects of transactions. It has two sides, left side representing debit and the right side representing credit. It is commonly used in accounting to keep track of changes in specific accounts. The other options (A, B, C, E) are not specifically related to T-accounts.

A Tool That Represents a Ledger Account and Is Used