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

Question

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

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A journal entry has only two lines: a) Increase in an asset, b) Increase in Owners' Equity. Multiple Choice a) is a DR and b)

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