Question: A journal entry has only two lines: a) Decrease in Revenue, b) Increase in Dividends. Multiple Choice a) is a DR and b) is a

 A journal entry has only two lines: a) Decrease in Revenue,
b) Increase in Dividends. Multiple Choice a) is a DR and b)
is a CR so the entry is valid a) is a CR
and b) is a DR so the entry is valid a) is
a DR and b) is a DR so the entry is NOT

A journal entry has only two lines: a) Decrease in Revenue, b) Increase in Dividends. Multiple Choice a) is a DR and b) is a CR so the entry is valid a) is a CR and b) is a DR so the entry is valid a) is a DR and b) is a DR so the entry is NOT valid a) is a CR and b) is a CR 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 a) is a DR and b) is a DR so the entry is NOT valid a) is a DR and b) is a CR so the entry is valid a) is a CR and b) is a DR so the entry is valid A journal entry has only two lines: a) Increase in a Revenue account, b) Increase in Dividends. Multiple Choice a) is a DR and b) is a CR so the entry is valid a) is a CR and b) is a DR so the entry is valid a) is a CR and b) is a CR so the entry is NOT valid a) is a DR and b) is a DR so the entry is NOT valid A journal entry has only two lines: a) Decrease in a Liability, b) Increase in an Expense. Multiple Choice 0 a) is a CR and b) is a DR so the entry is valid a) is a DR and b) is a DR so the entry is NOT valid a) Is a CR and b) is a CR so the entry is NOT valid a) is a DR and b) is a CR so the entry is valid A journal entry has only two lines: a) Decrease in Owners' Equity, b) Increase in a Revenue account. Multiple Choice a) is a CR and b) is a DR so the entry is valid a) is a DR and b) is a DR so the entry is NOT valid a) is a DR and b) is a CR so the entry is valid a) is a CR and b) is a CR so the entry is NOT valid

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!