A shortened form of the ledger is called a ________.
A) working account
B) summary account
C) chart of accounts
D) T-account

Question

Quizplus · Accepted Answer

A T-account is a shortened form of a ledger, used to analyze transactions and record changes in account balances. It takes its name from the T shape formed by the vertical line down the middle and the horizontal line under the account title. This format allows for quick identification of debits and credits and calculation of account balances.

A Shortened Form of the Ledger Is Called a ________