An Accounting Entry That Is Characterized by Having Multiple Debits

question 56

Multiple Choice

An accounting entry that is characterized by having multiple debits and/or multiple credits is called a ________ entry.

• A) balanced
• B) posted
• C) chart of accounts
• D) compound journal

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Definitions:

Withhold Information

The act of deliberately refraining from disclosing certain details or facts that may be necessary or requested.

Agent

An individual or entity authorized to act on behalf of another person or entity in legal or business matters.

Limited Partner

An investor in a partnership who has limited liability to the extent of their investment and does not participate in day-to-day management.

Import/Export

Import/export involves the buying and selling of goods or services between countries, subject to regulatory requirements and tariffs.