Homework Answers
The given statement is true. That is an account is defined as a record of business activities related to a particular item.
In a business entity, there will be huge number of transactions going on, and each should be recorded through journal entries. So each transaction affects different accounts. So recording of business transactions related to a particular item is known as an account.
Hence, the statement is true.
SUMMARY:
Recording of business activities that relates to a particular item is called an account.
Hence, given statement is true.
Add Answer to:
is this true or false?
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