A Journal Entry That Affects No More Than Two Accounts

question 251

True/False

A journal entry that affects no more than two accounts is called a compound entry.

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Definitions:

Economy

An organized system of production, distribution, and consumption of goods and services within a particular geographical region.

Division of Labour

The allocation of different parts of a manufacturing process or task to different individuals or groups, often to increase efficiency and productivity.

Labour Market Segmentation

Is the division of the market for labour into distinct settings. In these settings, work is found in different ways and workers have different characteristics. There is only a slim chance of moving from one setting to another.

Good Job

A term often used to express approval or satisfaction with someone's performance or effort.