What Is a Simple Account Form Widely Used in Accounting

question 85

Multiple Choice

What is a simple account form widely used in accounting education to illustrate how debits and credits work is called?

• A) Withdrawals account
• B) Capital account
• C) Ledger
• D) T-account
• E) Balance column account

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Definitions:

Dutch West India Company

A chartered company of Dutch merchants in the 17th century that established and directed trade throughout the Atlantic, including the slave trade and the settlement of New Netherland, now New York.

Powhatan

The leader of the Powhatan Confederacy, a network of tribal nations in what is now Virginia, who played a significant role in the early interactions between Native American peoples and English settlers in the 17th century.

St. Augustine

St. Augustine is a historic city in Florida, known for being the oldest continuously inhabited European-established settlement in the continental United States.

Massachusetts Bay Colony

An early English settlement in North America founded in 1630 by Puritans seeking religious freedom, it played a significant role in the development of New England.