Compound Entries

question 115

Multiple Choice

Compound entries

• A) would include an entry to record the purchase of a computer for cash.
• B) include at least two debits or two credits.
• C) require that all credits be listed before the debits for entries affecting the statement of financial position.
• D) should be broken into their component parts and recorded as simple entries.

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Definitions:

Addiction

A psychological and physical inability to stop consuming a chemical, drug, activity, or substance, even though it is causing psychological and physical harm.

Alcoholism

A chronic disease characterized by uncontrolled drinking and a preoccupation with alcohol.

Italy

A country located in southern Europe, known for its rich history, art, culture, and cuisine.

Ireland

A country located on the island of Ireland, to the west of Great Britain, known for its rich cultural heritage and natural beauty.