Asked by Kaeleigh Anstine on Jun 07, 2024
Verified
An account is a record of increases and decreases in a specific asset,liability,equity,revenue,or expense item.
Specific Asset
A particular identified asset, often marked for a specific use or project within a company's balance sheet.
Account
A record within financial bookkeeping that tracks financial transactions of a specific nature.
Revenue
The total earnings from goods or services sold, stemming from a company's main operational activities.
- Uncover the distinguishing features and management tactics for dissimilar account categories, comprising assets, liabilities, equity, revenues, and expenses.
Verified Answer
FB
Fabiola BautistaJun 09, 2024
Final Answer :
True
Explanation :
This is the definition of an account in accounting terminology.
Learning Objectives
- Uncover the distinguishing features and management tactics for dissimilar account categories, comprising assets, liabilities, equity, revenues, and expenses.
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