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

Question

Quizplus · Accepted Answer

A T-account is a simple form used in accounting education to understand how debits and credits work. It has two sides: a debit side on the left and a credit side on the right, with the account name written in the middle of the T. Transactions are recorded as debits and credits on their corresponding sides of the T-account.

A Simple Account Form Widely Used in Accounting Education to Illustrate