Answered: An accounting entry that is…

An accounting entry that is characterized by having multiple debits and/or multiple credits is called a entry. O A. chart of accounts B. compound journal OC. posted D. balanced

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

**Understanding Compound Journal Entries**

An accounting entry that is characterized by having multiple debits and/or multiple credits is called a **compound entry**.

### Multiple Choice Question:
**Question:**
An accounting entry that is characterized by having multiple debits and/or multiple credits is called a ________ entry.

**Options:**
- A. chart of accounts
- B. compound journal
- C. posted
- D. balanced

**Click to select your answer.**

Graphs or diagrams are not provided in this content. The question and answer format is intended for educational purposes to test the understanding of accounting entries.

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