A compound entry is:
A)a transaction involving more than one debit and/or credit.
B)used to prepare the trial balance.
C)included on the balance sheet.
D)found on the income statement.

Question

Quizplus · Accepted Answer

A compound entry involves more than one debit and/or credit. It is used to record transactions involving multiple accounts and is necessary for accuracy in the accounting records. It is not directly related to the preparation of the trial balance, nor is it included on the balance sheet or income statement.

A Compound Entry Is