New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    An entry with more than one debit or credit is known

    as
    A Compound entry Correct Answer Incorrect Answer
    B Singly entry Correct Answer Incorrect Answer
    C Multiple entry Correct Answer Incorrect Answer
    D Double entry Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    A compound entry is an accounting entry with more than one debit or credit. It is used to record transactions that involve multiple accounts. Compound entries are more efficient than multiple single entries because they can be recorded in one step. They also provide a more complete record of the transaction by showing all of the accounts affected by the transaction.

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