Accountancy, asked by sohelsa2742, 1 month ago

what is account definition of account​

Answers

Answered by ishanikapoor217
0

Answer:

n bookkeeping, an account refers to assets, liabilities, income, expenses, and equity, as represented by individual ledger pages, to which changes in value are chronologically recorded with debit and credit entries. These entries, referred to as postings, become part of a book of final entry or ledger

Answered by Sanvi1311
9

Answer:

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An account is a record in an accounting system that tracks the financial activities of a specific asset, liability, equity, revenue, or expense. ... Each individual account is stored in the general ledger and used to prepare the financial statements at the end of an accounting period.

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