The T-Account Approach

question 78

Multiple Choice

The T-account approach:

• A)may be used with the direct method.
• B)creates one big T-account for cash that replaces separate schedules to show all the changes in the cash account.
• C)shows cash provided as credits and cash used as debits.
• D)does not determine the change in each balance sheet account.

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Definitions:

Terseness

The quality of being concise and to the point, often characterized by a minimalist use of words to convey information effectively.

Conciseness

The quality of being brief and to the point, eliminating unnecessary words or details.

Comprehensiveness

refers to the quality of including all or nearly all elements or aspects of something.

Correctness

Correctness in communication refers to the accuracy of content, grammar, punctuation, and syntax in spoken or written modes.