Final answer:
A T-account is a tool in accounting that provides a visual layout for understanding the impacts of transactions on an account, balancing debits and credits.
Step-by-step explanation:
A T-account is A) a way of depicting the basic form of an account. The 'T' in a T-account represents the layout of the balance sheet, where a two-column format is used with the T-shape formed by the vertical line down the middle and the horizontal line under the column headings for “Assets” and “Liabilities. It is used by firms to visually organize and see the balances in different accounts.
Each side of the T-account displays the increases and decreases in that account due to business transactions. It's essentially a tool for accounting, used to track the effects of transactions on individual accounts, as well as to ensure that debits and credits are balanced as part of the double-entry bookkeeping method.