1 A journal entry has only two lines a) Decrease in a liability, b) Decrease in a Revenue account Multiple Choice a) is a CR and b) is a CR so the entry is NOT valid b) is a DR and b) is a CR so the entry is valid c) is a CR and b) is a DR so the entry is valid d) is a DR and b) is a DR so the entry is NOT valid 2 A journal entry has only two lines a) Increase in one asset, b) Decrease in a second asset Multiple Choice a) is a DR and b) is a CR so the entry is valid b) is a CR and b) is a DR so the entry is valid c) is a CR and b) is a CR so the entry is NOT valid d) is a DR and b) is a DR so the entry is NOT valid 3 A journal entry has only two lines a) Decrease in Revenue, b) Decrease in Dividends Multiple Choice a) is a CR and b) is a CR so the entry is NOT valid b) is a DR and b) is a DR so the entry is NOT valid c) is a DR and b) is a CR so the entry is valid d) is a CR and b) is a DR so the entry is valid 4 A journal entry has only two lines a) Decrease in an asset, b) Increase in an Expense Multiple Choice a) is a CR and b) is a CR so the entry is NOT valid b) is a CR and b) is a DR so the entry is valid c) is a DR and b) is a DR so the entry is NOT valid d) is a DR and b) is a CR so the entry is valid

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Question: 1.A journal entry has only two lines: a) Decrease in a liability, b) Decrease in a Revenue account. Multiple Choice a) is a CR and

1.A journal entry has only two lines: a) Decrease in a liability, b) Decrease in a Revenue account.

Multiple Choice

a) is a CR and b) is a CR so the entry is NOT valid

b) is a DR and b) is a CR so the entry is valid

c) is a CR and b) is a DR so the entry is valid

d) is a DR and b) is a DR so the entry is NOT valid

A journal entry has only two lines: a) Increase in one asset, b) Decrease in a second asset.

Multiple Choice

a) is a DR and b) is a CR so the entry is valid

b) is a CR and b) is a DR so the entry is valid

c) is a CR and b) is a CR so the entry is NOT valid

d) is a DR and b) is a DR so the entry is NOT valid

A journal entry has only two lines: a) Decrease in Revenue, b) Decrease in Dividends.

Multiple Choice

a) is a CR and b) is a CR so the entry is NOT valid

b) is a DR and b) is a DR so the entry is NOT valid

c) is a DR and b) is a CR so the entry is valid

d) is a CR and b) is a DR so the entry is valid

A journal entry has only two lines: a) Decrease in an asset, b) Increase in an Expense.

Multiple Choice

a) is a CR and b) is a CR so the entry is NOT valid

b) is a CR and b) is a DR so the entry is valid

c) is a DR and b) is a DR so the entry is NOT valid

d) is a DR and b) is a CR so the entry is valid

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