A T-Account Is a Device or Convention for Organizing and Accumulating

Multiple Choice

A T-account is a device or convention for organizing and accumulating the accounting entries of transactions that affect an individual account. Which of the following is/are true?

A) Increases in assets appear on the left side, and decreases in assets appear on the right side of T-accounts.
B) Increases in liabilities appear on the right side, and decreases in liabilities appear on the left side of T-accounts.
C) Increases in shareholders' equity appear on the right side, and decreases in shareholders' equity appear on the left side of T-accounts
D) all of the above are true
E) none of the above are true