Asked by Mariah Rodriguez on Apr 29, 2024
Verified
A compound entry is when more than one transaction occurs.
Compound Entry
An accounting entry that involves more than two accounts, where there are multiple debits, credits, or both.
- Recognize dealings that require compound journal entries.
Verified Answer
BL
Byron LopezMay 05, 2024
Final Answer :
False
Explanation :
A compound entry refers to a journal entry that involves more than two accounts, not necessarily more than one transaction.
Learning Objectives
- Recognize dealings that require compound journal entries.