Which statement about an account is true?

(a) In its simplest form, an account consists of two parts.

(b) An account is an individual accounting record of increases and decreases in specific asset, liability, and stockholders’

equity items.

There are separate accounts for specific assets and liabilities but only one account for stockholders’ equity items.

(d) The left side of an account is the credit or decrease side.

AppendixLO1