Question

19. A compound / combined entry is a
journal entry derived by combining more
than two accounts in one entry.
(1 Point)
True
False​

Answer 1

Answer:

True

Explanation:

suppose, the entry goes like

A's A/C..........Dr.

to B's A/C -1

B's A/C.........Dr.

to C's A/C -2

Here, the net effect of the two entries would be

A's A/C.....Dr.

to C's A/C -3( Combined entry)

Here, B's A/C gets cancelled because of the Dr. and Cr. effects and the other two accounts are combined together in a single entry.

Hope this helped:)