Question
7. A journal entry has only two lines a) Decrease in an asset b) Increase in Owners ' Equity a) is a DR and b)
7. A journal entry has only two lines a) Decrease in an asset b) Increase in Owners ' Equity
a) is a DR and b) is a DR so the entry NOT valid
a) is a CR and b) is a CR so the entry NOT valid
a) is a CR and b) a DR so the entry valid
a) is a DR and b) is CR so the entry is valid
6. A journal entry has only two lines a) Increase in a Liability, b) Decrease in Owners ' Equity
a) is a CR and b a DR the entry is valid
a) is a DR and bis a CR so the entry is valid
a) is DR and DR so the entry is NOT valid
a) is a CR and b) is CR so the entry is NOT valid
2. A journal entry has only two lines a) Decrease in an asset et,b) Decrease in Dividends
a) is a CR and b) is a CR so the entry is NOT valld
a) is a CR and b ) is a DR so the entry is valid
a) is a DR and b) is a CR so the entry is valid
a) a DR and b) is a DR the entry is NOT valid
3. A journal entry has only two lines: a) Decrease in an Asset, b) Decrease in Owners ' Equity Multiple Choice
a) is a CR and bCR so the entry is NOT valid
a) is a DR and DR so the entry is NOT valid
a) is a CR and b) is a DR so the entry is valid
a) is a DR and b) is a CR so the entry valid
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The Audit Process Principles Practice And Cases
Authors: Iain Gray, Stuart Manson,
4th ISA Edition
1844806782, 9781844806782
