A 'T' Account

question 129

Multiple Choice

A 'T' account

• A) is a way of depicting the basic form of an account.
• B) is listed in alphabetical order.
• C) has the debit transactions equal to the credit transactions.
• D) is used for accounts that have both a debit and credit balance.

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Definitions:

Volume Variance

An assessment of the impact of production or sales volume differences on a company's revenue or expenses, relative to budgeted amounts.