A simple account form widely used in accounting as a tool to understand how debits and credits affect an account balance is called a:
A: Withdrawals account.
B: Capital account.
C: Drawing account.
D: T-account.
E: Balance column sheet.
A: Withdrawals account.
B: Capital account.
C: Drawing account.
D: T-account.
E: Balance column sheet.
举一反三
- An account linked with another account that has an opposite normal balance and that is subtracted from the balance of the related account is a(): ____ A: Accrued expense. B: Contra account. C: Accrued revenue. D: Intangible asset.
- An account balance is the difference between the debits and credits for an account including any beginning balance.
- The owner's withdrawal account normally has a credit balance since it is an equity account.
- The official settlements balance or balance of payments is the sum of the current account balance and the capital account balance.
- Vostro account is a due to account. ( )