True or False

Official Receipts,sales invoice, and billing statements are example of source documents.

• True

• False

A compound journal entry is a journal that has one debit account and one credit account.

• True

• False

Answer explanation

Single Journal entry

Journal- is referred to as the “book of original entry”.

• True

• False

Posting is the process of recording of financial information into the journal .

• True

• False

Answer explanation

Journalizing

Journal contains dates,account name, debit and credit.

• True

• False