Multiple choice

A record summarizing all the information pertaining to a single item in the accounting equation

  1. Journal

  2. Special journal

  3. Account

  4. Ledger

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

An account is a record that summarizes all transactions related to a specific item, such as cash, accounts receivable, or a specific expense. The ledger is the collection of all these accounts.