The Left Side of a T Account Is the

question 47

Multiple Choice

The left side of a T account is the

• A) credit side.
• B) debit side.
• C) description of the account.
• D) balance of the account.

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Definitions:

Interest Rate

The proportion of a total amount of money that is levied for borrowing it, usually stated on a yearly basis.

Investment

The allocation of resources, usually money, in assets with the expectation of earning a future return.

Face Value

The nominal value printed on a financial instrument like a bond or currency note, representing its legal value.

Compound Interest

Interest on a loan or deposit calculated based on both the initial principal and the accumulated interest from previous periods.