Question
1.A journal entry has only two lines: a) Decrease in a liability, b) Decrease in a Revenue account. Multiple Choice a) is a CR and
1.A journal entry has only two lines: a) Decrease in a liability, b) Decrease in a Revenue account.
Multiple Choice
a) is a CR and b) is a CR so the entry is NOT valid
b) is a DR and b) is a CR so the entry is valid
c) is a CR and b) is a DR so the entry is valid
d) is a DR and b) is a DR so the entry is NOT valid
2.
A journal entry has only two lines: a) Increase in one asset, b) Decrease in a second asset.
Multiple Choice
a) is a DR and b) is a CR so the entry is valid
b) is a CR and b) is a DR so the entry is valid
c) is a CR and b) is a CR so the entry is NOT valid
d) is a DR and b) is a DR so the entry is NOT valid
3.
A journal entry has only two lines: a) Decrease in Revenue, b) Decrease in Dividends.
Multiple Choice
a) is a CR and b) is a CR so the entry is NOT valid
b) is a DR and b) is a DR so the entry is NOT valid
c) is a DR and b) is a CR so the entry is valid
d) is a CR and b) is a DR so the entry is valid
4.
A journal entry has only two lines: a) Decrease in an asset, b) Increase in an Expense.
Multiple Choice
a) is a CR and b) is a CR so the entry is NOT valid
b) is a CR and b) is a DR so the entry is valid
c) is a DR and b) is a DR so the entry is NOT valid
d) is a DR and b) is a CR so the entry is valid
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Gleim CIA Review Part 2 Practice Of Internal Auditing
Authors: Irvin N. Gleim
2020 Edition
1618542648, 978-1618542649
