The T-account looks like the letter T, with a horizontal line bisected by a vertical line.Increases in assets appear on the left side, and decreases in assets appear on the right side of T-accounts.

Question

Quizplus · Accepted Answer

This statement is true. T-accounts are used in accounting to illustrate the changes in account balances. The left side of the T-account represents the debit side or "increase" side, while the right side represents the credit side or "decrease" side.

The T-Account Looks Like the Letter T, with a Horizontal