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What is a compound entry?
46. What is a compound entry?
- An entry involving more than two accounts.
- Accounting entry in which just one account is debited and one is credited.
- An accounting entry in which there is more than one debit, more than one credit, or more than one of both debits and credits.
- Entry that is used to record a business transaction in the accounting records of a business.
Answer: C) An accounting entry in which there is more than one debit, more than one credit, or more than one of both debits and credits.
Explanation:
A compound journal entry is an accounting entry in which there is more than one debit, more than one credit, or more than one of both debits and credits.