Question

An account is a part of the financial information system and is described by each one of the following except:

A) an account has a debit and credit side
B) an account is a source document
C) an account consists of three parts
D) an account has a title

Answer 1

An account is a part of the financial information system that records the financial transactions and events of a business entity. It is not a source document.

Step-by-step explanation:

An account is a part of the financial information system that is described by each one of the following except:

1. An account has a debit and credit side
2. An account is a source document
3. An account consists of three parts
4. An account has a title

The correct answer is B) an account is a source document. A source document is a physical or digital evidence that supports a transaction or an event. An account, on the other hand, records the financial transactions and events of a business entity.