A T-Account Is a Device or Convention for Organizing and Accumulating

question 90

Multiple Choice

A T-account is a device or convention for organizing and accumulating the accounting entries of transactions that affect an individual account. Which of the following is/are true?

• A)Increases in assets appear on the left side, and decreases in assets appear on the right side of T-accounts.
• B)Increases in liabilities appear on the right side, and decreases in liabilities appear on the left side of T-accounts.
• C)Increases in shareholders' equity appear on the right side, and decreases in shareholders' equity appear on the left side of T-accounts
• D)all of the above are true
• E)none of the above are true

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Definitions:

Creative Intelligence

A facet of intelligence involving the ability to deal with new and different concepts and to come up with innovative solutions to problems.

Emotional Intelligence

The ability to perceive, understand, manage, and use emotions.

Existential Intelligence

The ability to grapple with big questions about human existence, such as the meaning of life, why we die, and how we got here, often associated with philosophical thinking.

Bodily-kinesthetic

Pertaining to the intelligence that involves physical coordination, movement, and the ability to manipulate objects effectively.