When Two Accounts Are Required in One Journal Entry the Entry

question 5

Multiple Choice

When two accounts are required in one journal entry the entry is referred to as a

• A) balanced entry.
• B) simple entry.
• C) posting.
• D) nominal entry.

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Definitions:

Water Soluble

Characteristic of a substance that can be dissolved in water.

Vitamin

Organic compounds required in small quantities for essential metabolic reactions in living organisms.

Stored

When referring to a general term, it means to put away or accumulate for future use.

Bile

A digestive fluid produced by the liver, stored in the gallbladder, and secreted into the small intestine to aid in the digestion and absorption of fats.