Respuesta :
T-account format provides an informal view of account activity and is used for problem solving accounting transactions.
What is accounting?
The measuring, processing, and sharing of financial and non-financial information regarding economic entities like enterprises and corporations is known as accounting, also known as accountancy. Accounting, which is frequently referred to as simply "accounting," is the process of gathering, analyzing, and disseminating financial and other data on companies and businesses. Describe accounting. Accounting is the activity of keeping records of a company's financial transactions. Revenues, costs, assets, and liabilities are all topics covered by the fundamental accounting concepts utilized in business. Balance sheets, income statements, and cash flow statements are just a few of the records that track and record these factors.
Hence, T-account format provides an informal view of account activity and is used for problem solving accounting transactions.
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