Which of the Following Statements Is True About a Journal

question 142

Multiple Choice

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

• A) Decreases in liabilities are indented.
• B) The Post.Ref.column is left blank until entries are posted.
• C) A line is skipped between each debit and each credit.
• D) Assets are entered before liabilities.

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Definitions:

Target Return

A financial goal specifying the desired rate of return on an investment or business venture.

Scenario B

A specific potential or planned situation, often used in planning processes to test different strategies or outcomes.

Competition-oriented

A focus or strategy that emphasizes understanding, responding to, and leveraging the competitive landscape in a market.

Loss-leader Pricing

A pricing strategy where a product is sold at a price below its market cost to stimulate sales of more profitable products or services.