Multiple choice

The journal entry with two or more debits or credits is known as 

  1. rectified entry

  2. opening entry

  3. closing entry

  4. compound entry

Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The entry with two or more debits/credits is a compound entry. Opening entry is one which is passed to carry forward the previous year's balances to current year. Closing entry is one which is passed to carry forward the current year's balances to next year. Rectified entry is meant for making rectification of the errors made in account books.