Which of the following statements is FALSE regarding a proper journal entry?
A) Debits are always listed first in the entry.
B) Credits are always indented.
C) Skip a line between transactions.
D) Always list the assets first.

Question

Quizplus · Accepted Answer

Assets, liabilities, equity, revenue, and expenses should be listed in the order they appear on the financial statements, which typically starts with assets. However, if a transaction affects multiple accounts from different categories, list them in the order in which they appear in the accounting equation (assets = liabilities + equity).

Which of the Following Statements Is FALSE Regarding a Proper