Faith Dillon has prepared the following list of statements about accounts.

An account is an accounting record of either a specific asset or a specific liability.

An account shows only increases, not decreases, in the item it relates to$.$

Some items, such as cash and accounts receivable, are combined into one account.

An account has a left, or credit side, and a right, or debit side.

A simple form of an account consisting of just the account title, the left side, and the right side is called a T$-$account.