Question: A journal entry has only two lines: a) Decrease in Owners' Equity, b) Decrease in an Expense. Multiple Choice a) is a CR and b)



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