A journal entry has only two lines a) Increase in a Revenue account, b) Increase in an Expense account Multiple Choice 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) is a CR and b) is a CR so the entry is NOT valid a) is a DR and b) is a DR so the entry is NOT valid A journal entry has only two lines a) Decrease in an Asset, b) Decrease in Owners' Equity Multiple Choice a) is a CR and b) is a DR so the entry is valid a) is a DR and b) is a DR so the entry is NOT valid O a) is a DR and b) is a CR so the entry is valid a) is a CR and b) is a CR so the entry is NOT valid A journal entry has only two lines a) Decrease in Owners' Equity, b) Decrease in a Revenue account Multiple Choice a) is a DR and b) is a DR so the entry is NOT valid a) is a DR and b) is a CR so the entry is valid a) is a CR and b) is a DR so the entry is valid a) is a CR and b) is a CR so the entry is NOT valid A journal entry has only two lines a) Decrease in one Expense, b) Decrease in another Expense Multiple Choice a) is a CR and b) is a DR so the entry is valid a) is a CR and b) is a CR so the entry is NOT valid a) is a DR and b) is a DR so the entry is NOT valid a) is a DR and b) is a CR so the entry is valid A journal entry has only two lines a) Increase in an asset, b) Decrease in Dividends Multiple Choice a) is a CR and b) is a CR so the entry is NOT valid O 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) is a DR and b) is a DR so the entry is NOT valid A journal entry has only two lines a) Increase in Owners' Equity, b) Increase in Dividends Multiple Choice 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) is a CR and b) is a CR so the entry is NOT valid a) is a DR and b) is a DR so the entry is NOT valid A journal entry has only two lines a) Increase in an asset, b) Decrease in an Expense Multiple Choice a) is a DR and b) is a DR so the entry is NOT valid a) is a DR and b) is a CR so the entry is valid a) is a CR and b) is a CR so the entry is NOT valid a) is a CR and b) is a DR so the entry is valid

Question

A journal entry has only two lines  a) Increase in a Revenue account, b) Increase in an Expense account  Multiple Choice 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) is a CR and b) is a CR so the entry is NOT valid a) is a DR and b) is a DR so the entry is NOT valid A journal entry has only two lines  a) Decrease in an Asset, b) Decrease in Owners' Equity  Multiple Choice a) is a CR and b) is a DR so the entry is valid a) is a DR and b) is a DR so the entry is NOT valid O a) is a DR and b) is a CR so the entry is valid a) is a CR and b) is a CR so the entry is NOT valid A journal entry has only two lines  a) Decrease in Owners' Equity, b) Decrease in a Revenue account Multiple Choice a) is a DR and b) is a DR so the entry is NOT valid a) is a DR and b) is a CR so the entry is valid a) is a CR and b) is a DR so the entry is valid a) is a CR and b) is a CR so the entry is NOT valid A journal entry has only two lines  a) Decrease in one Expense, b) Decrease in another Expense  Multiple Choice a) is a CR and b) is a DR so the entry is valid a) is a CR and b) is a CR so the entry is NOT valid a) is a DR and b) is a DR so the entry is NOT valid a) is a DR and b) is a CR so the entry is valid A journal entry has only two lines  a) Increase in an asset, b) Decrease in Dividends  Multiple Choice a) is a CR and b) is a CR so the entry is NOT valid O 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) is a DR and b) is a DR so the entry is NOT valid A journal entry has only two lines  a) Increase in Owners' Equity, b) Increase in Dividends  Multiple Choice 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) is a CR and b) is a CR so the entry is NOT valid a) is a DR and b) is a DR so the entry is NOT valid A journal entry has only two lines  a) Increase in an asset, b) Decrease in an Expense  Multiple Choice a) is a DR and b) is a DR so the entry is NOT valid a) is a DR and b) is a CR so the entry is valid a) is a CR and b) is a CR so the entry is NOT valid a) is a CR and b) is a DR so the entry is valid

Accepted Answer

The Answer is in the image, click to view ...

Question

A journal entry has only two lines: a) Increase in a Revenue account, b) Increase in an Expense account. Multiple Choice a) is a CR

Step by Step Solution

Step: 1

Get Instant Access to Expert-Tailored Solutions

Step: 2

Step: 3

Ace Your Homework with AI

Recommended Textbook for

Accounting For Non-Accountants

Students also viewed these Accounting questions

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question