A journal entry affecting three or more accounts is called a:
A)multi-level entry.
B)multi-step entry.
C)compound entry.
D)double entry.

Question

Quizplus · Accepted Answer

A compound entry is a journal entry that affects three or more accounts. It is called compound because it combines multiple transactions into a single entry. The other options (A, B, and D) are incorrect because they do not accurately describe a journal entry affecting multiple accounts.

A Journal Entry Affecting Three or More Accounts Is Called