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

Name: A journal entry affecting three or more accounts is called a: A) multi-level entry. B) multi-step entry. C) compound entry. D) triple-step entry.
Brand: Quizplus
Rating: 4.7 (35 reviews)

Question

Quizplus · Accepted Answer

A compound entry is a journal entry that involves more than two accounts, making it the correct term for an entry affecting three or more accounts.

A Journal Entry Affecting Three or More Accounts Is Called