A Compound Journal Entry Requires Several Debits to One Account

question 164

True/False

A compound journal entry requires several debits to one account and several credits to one account.

---

Definitions:

Effortful Thinking

The process of thinking that requires conscious effort and attention, as opposed to automatic or instinctive thought processes.

Insight

is the capacity to gain an accurate and deep intuitive understanding of a person or thing, often leading to a breakthrough in problem-solving or comprehension.

Algorithm

A step-by-step procedure or formula for solving a problem or completing a task, often used in computing and mathematics.

Subgoals

Smaller, achievable objectives set as steps toward reaching a larger goal, facilitating problem-solving and task completion.