Question

what is an account༻kindly answer in own words༺｡●‿●｡​

Answer 1

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✳ What is an account ?

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✒ An account is where credit and debits occur to keep track of where the money is. For example, you will have a cash account where cash is credited and debited, an accounts receivables account where you credit and debit the money that the company is owed, and an accounts payable account where the company keeps track of money they owe.

Additional information :-

(1) Account = money in bank

He withdrew half the money in his account.

(2) Account = Retail credit

She charged the shoes to her account.

(3) Account = Registration with website, internet etc.

Do you have a WordReference account?

Est-ce que tu as un compte WordReference ?

(4) Account = Narrative

He gave a detailed account of the football match.

(5) Account = Explanation

The police did not believe Sally's account of her actions.

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Answer 2

Hey Mate !

It is a systematic process of identifying, recording, measuring, classifying, verifying, summarizing, interpreting and communicating financial information. It reveals profit or loss for a given period, and the value and nature of a firm's assets, liabilities and owners' equity. Accounting provides information on the.

Hope It Helps u !