Which type of account do businesses use to record their financial transactions?
A __________account, also called a T-shaped account, is a format in which businesses record their financial transactions.

it is called a T account because it has two sides, Credit side and Debit side. Depending on the type of the account such as Asset, Expenses, Liabilities, Income or Equity, the records are entered. Whether they increase or decrease.

Asset, Expenses when incresed they are debited and decreased theya re credited.

Liabilities, Income or Equity are debited when they decrease and credited when they are increased.

Which type of account do businesses use to record their financial transactions? A __________account, also called a T-shaped account, is a format in which businesses record their financial transactions.

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Which type of account do businesses use to record their financial transactions?
A __________account, also called a T-shaped account, is a format in which businesses record their financial transactions.