Explain Compound Journal Entry?
Submitted by: AdministratorIn day to day business, various similar transactions take place on the same day and every account is either debited or credited. Thus instead of passing different entries, a compound entry can be passed, which involves more than one debit or more than one credit or both. This makes the journal less bulky and avoids duplication.
Submitted by: Administrator
Submitted by: Administrator
Read Online Basic Accounting Job Interview Questions And Answers
Top Basic Accounting Questions
| ☺ | What is Rectification Entries? |
| ☺ | What is Adjustment Entries? |
| ☺ | What is Transfer Entries? |
| ☺ | What is Journalizing? What are the columns of a journal? |
| ☺ | What is Closing Entries? |
Top Finance and Accounts Categories
| ☺ | MBA Finance Interview Questions. |
| ☺ | Bank Teller Interview Questions. |
| ☺ | Capital Market Interview Questions. |
| ☺ | Bank Reconciliation Interview Questions. |
| ☺ | Cashier Interview Questions. |
