Every journal entry:
A)must increase at least one account and decrease at least one account.
B)must debit at least one account and credit at least one account.
C)is recorded in either the journal or the ledger.
D)affects both an income statement account and a balance sheet account.

Question

Quizplus · Accepted Answer

Journal entries follow the double-entry accounting concept, where every entry must have at least one debit and one credit, hence increasing at least one account and decreasing another.

Every Journal Entry