An account is an individual accounting record of increases and decreases in specific
A) liabilities.
B) assets.
C) expenses.
D) assets liabilities and owner's equity items.

Question

Quizplus · Accepted Answer

An account is a record of changes in specific assets, liabilities, and owner's equity items. It tracks increases and decreases in these items over time. So, the best choice is D.

An Account Is an Individual Accounting Record of Increases and Decreases