T-Accounts Are Frequently Used in Textbooks, Demonstration Problems, and Examinations

question 88

Multiple Choice

T-accounts are frequently used in textbooks, demonstration problems, and examinations to accumulate information about the effects of business transactions on individual balance sheet accounts and to prepare the balance sheet.Alternatively, to accomplish the same objectives, some instructors and students might prefer to use

• A)a computer spreadsheet program.
• B)P-accounts, only.
• C)a single-entry bookkeeping system.
• D)P&L-accounts.
• E)L-accounts, only.