Which of These Statements About T Accounts Is FALSE

question 30

Multiple Choice

Which of these statements about T accounts is FALSE?

• A) They are used mainly in classroom demonstrations.
• B) They have both a left side and a right side.
• C) They are used extensively in computer accounting.
• D) Each account has a normal balance which is either a debit or a credit.

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Definitions:

Productivity

The efficacy and efficiency with which input resources (such as time, labor, and materials) are converted into outputs, such as goods or services.

Service Quality

The assessment of how well a delivered service matches customer expectations, often a critical component of customer satisfaction in business.

Profit Sharing

A company program in which a portion of the company's profits is distributed to its employees, often based on their performance and the company's earnings.

Larger Firms

Refers to companies or organizations that have an expanded scale of operations, workforce, or market share relative to others in their industry.