T-accounts represent a simplified version of the:
A)ledger.
B)journal.
C)trial balance.
D)financial statements.

Question

Quizplus · Accepted Answer

Transactions are analyzed and their financial effects are entered into journals each day they occur.Later,these journal entries are summarized in ledger accounts that keep track of the financial effects on each account.The simplified version of a ledger account is called a T-account.

T-Accounts Represent a Simplified Version of The