An Entry That Has More Than One Debit And/or Credit

question 133

Multiple Choice

An entry that has more than one debit and/or credit is called a:

• A)double entry.
• B)compound entry.
• C)multiple-step entry.
• D)special entry.

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Definitions:

Leverage

In finance, the use of borrowed funds to increase investment potential or, in a broader sense, using a small initial investment to gain a high return.

Short-term Obligations

Financial liabilities or debts that are due to be paid within a short period, typically within a year, such as accounts payable or short-term loans.

Structured Review

A systematic approach to evaluating a piece of work, such as a document or project, against predefined criteria.

Completed Project

A project that has been finished, fulfilling all its objectives and requirements within the predetermined scope, time, and budget.