Departmental Information Cannot Be Added to a Journal Entry When

question 5

Multiple Choice

Departmental information cannot be added to a journal entry when -

• A)balance sheet accounts are involved because departmental accounting applies only to income and expense accounts
• B)you forgot to add the department for the supplier or customer in the ledger record
• C)the entry uses only linked accounts and more than one department is involved in the transaction
• D)a sale uses more than one revenue account or a purchase uses more than one expense account

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Definitions:

Moral Considerations

Ethical elements that influence decision-making, emphasizing the distinction between right and wrong actions in personal and professional contexts.

Ultimatum Game

A game in experimental economics and psychology, where two players decide on how to divide a sum of money; one player offers a split and the other can accept or reject it, where rejection means both get nothing.

Dictator Game

A behavioral experiment in economics where an individual, termed the "dictator," decides how to split an amount of money with another participant.

Fairness Considerations

Evaluations or judgments about the equity, justice, or fairness in situations, actions, or distribution of resources.