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
Q22: According to the money measurement concept, the
Q23: Double Entry System was introduced in-
A)America
B)Japan
C)India
D)Italy
Q24: The International Accounting Standards Committee was set
Q25: The underlying assumption that assumes that the
Q26: The primary objective of the matching principle
Q28: The convention of conservatism is applicable _
A)In
Q29: Creditors for goods purchase come within the
Q30: Money spent on heavy advertising, whose benefit
Q31: A deduction allowed to the buyers from
Q32: Goodwill is a
A)Current asset
B)Tangible asset
C)Intangible asset
D)Liability
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