Which of the Following Statements Is False About a Journal

question 156

Multiple Choice

Which of the following statements is false about a journal entry?

• A) It may have more than one debit or credit entry.
• B) Credits are always indented.
• C) Accounts that are increased are always listed first.
• D) A space should be skipped between journal entries.

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Definitions:

Constitutional Amendment

A formal change or addition proposed or made to a constitution, which alters its content and legal ordering.

Balanced Budget

A financial plan whereby revenues and expenditures are equal, resulting in no deficit for the given period.

Business Cycle

The fluctuations in economic activity that an economy experiences over a period of time, typically characterized by periods of boom and recession.

Balanced Budget Rule

A fiscal policy regulation requiring that a government's spending does not exceed its income in a given period.