Question: Which of following statements about an account is true?
A
B
C
D
In its simple form, an account consists of two parts.
B
An account is an individual accounting record of increases and decreases in specific asset, liability and owner's equity items.
C
There are separate accounts for specific assets and liabilities but only one account for owner's equity items.
D
The left side of an account is the credit or decrease side.
Note: Not available