An account is a record of every transaction, whether it increases or decreases the value of a specific asset, liability, equity, revenue, or expense.
An Account is a systematic way to record all the necessary transactions relating to a specific asset, liability, equity, revenue, or expense.
An account contains all types of transactions, whether related to financial or non-financial.
Thus, an account records all types of transactions that will increase or decrease the value of the specific asset, liability, equity, revenue, and expense.
Learn more about the Account here:
https://brainly.com/question/22917325
#SPJ1
