Multiple Choice
The term "compound entry" means that the journal entry has
A) More than two accounts involved in the entry
B) A debit amount greater than the credit amount
C) A credit amount greater than the debit amount
D) Only one debit, but two credits
Correct Answer:
Verified
Correct Answer:
Verified
Q19: According to this convention, important items must
Q20: Which of the following explains the imprest
Q21: Drawings account is the nature of<br>A)Personal Account<br>B)Real
Q22: Cash discount is provided?<br>A)Early payment<br>B)Late payment<br>C)Bulk purchase<br>D)Bulk
Q23: The opening stock is shown in:<br>A)Trading Account<br>B)Profit
Q25: The balance of petty cash is?<br>A)An asset<br>B)A
Q26: Entry representing the reversal or cancellation of
Q27: Errors of carry forward from one year
Q28: In India, a company can keep its
Q29: Assets are usually valued under which basis?<br>A)Replacement