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Multiple Choice Question Which statement best describes a T - account? A T - account is used to record transactions in a chronological order and
Multiple Choice Question
Which statement best describes a Taccount?
A Taccount is used to record transactions in a chronological order and serves as a book of original entry.
A Taccount represents a ledger account and is a tool used to understand the effects of transactions.
A Taccount is used in a business to accurately report the financial status of its operations to the owners.
A Taccount is a formal financial statement which reports whether debits credits at any given time.
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