If an Error in a Journal Entry Is Detected After

question 8

Multiple Choice

If an error in a journal entry is detected after posting, you should

• A) erase the incorrect entry.
• B) initial where the error was made.
• C) make a correcting entry.
• D) do nothing in hopes it will go away.

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Definitions:

Consumer Behaviour

The inquiry into processes used by individuals, groups, or organizations to select, gain, consume, and remove products, services, experiences, or thoughts for need fulfillment, and the resultant influences these processes exert on the individual and societal level.

Manipulate

To skillfully or unfairly influence or control someone or something to gain advantage, often without their knowledge.

Competition Act

Legislation aimed at promoting fair competition and preventing monopolistic practices within a market.

Refund

The return of money previously paid for goods or services, typically as a result of dissatisfaction, defects, or the neeed for cancellation.