An accounting entry that is characterized by having multiple debits and/or multiple credits is called a ________ entry.
A) balanced
B) posted
C) chart of accounts
D) compound journal

Question

Quizplus · Accepted Answer

A compound journal entry involves multiple debits and/or multiple credits, often used when recording complex transactions such as adjusting entries or closing entries. A balanced entry simply refers to an entry where the total debits equal the total credits, and posted and chart of accounts are not types of entries.

An Accounting Entry That Is Characterized by Having Multiple Debits