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

question 23

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 first.
• D)listed in chronological order.

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Definitions:

Liable

Being legally responsible for something, typically referring to the obligation to compensate for loss or damage.

Disclosed Principal

A principal whose identity is known to a third party at the time the agent makes a contract with the third party.

Liable

Legally responsible or obligated, often in reference to the duty to compensate for harm or loss caused by one's actions or omissions.

Scope of Authority

The scope of authority delineates the range of actions or decisions that an individual or entity, such as an employee or agent, is officially empowered to make on behalf of another party or organization.