The Proper Format for a Journal Entry Includes All of the Following

question 125

Multiple Choice

The proper format for a journal entry includes all of the following, except:

• A) the total amounts of debits must equal the total amount of credits.
• B) skip a line between transactions.
• C) the credit portion of the transaction is always indented.
• D) listed in the order of highest dollar value.

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Definitions:

Pollution Abatement

Measures and actions taken to reduce, control, or eliminate pollution from various sources in order to protect the environment.

Law of Diminishing Returns

A principle stating that if one factor of production is increased while other factors are held constant, the marginal product of the increased factor will eventually decrease.

Moral Hazard

A situation where one party takes risks because they know they will not have to bear the full consequences of their actions.

Divorce Insurance

A type of financial product designed to provide financial protection to individuals in case of a divorce, typically by paying a lump sum.