The Following Statements Pertain to Recording Transactions

question 113

Multiple Choice

The following statements pertain to recording transactions.Which of them are true? I.Total debits should equal total credits.
II) It is possible to have multiple debits or credits in one journal entry.
III) Assets are always listed first in journal entries.
IV) Some journal entries will have debits only.

• A)I only.
• B)I and II.
• C)I,II,and IV.
• D)II,III,and IV.

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