Accounting: Tools for Business Decision Making, 5th Edition

Published by Wiley
ISBN 10: 1118128168
ISBN 13: 978-1-11812-816-9

Chapter 3 - The Accounting Information System - Self-Test Questions - Page 136: 5


B : An account is an individual accounting record of increases and decreases in specific asset, liability, and stockholders’ equity items

Work Step by Step

An account has two sides debit and credit, which track the increase and decrease in the assets, liabilities and equity. Option A is also correct but Option B is more accurate because it gives more detailed information of account.
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