A Correcting Entry

question 177

Multiple Choice

A correcting entry

• A) must involve one statement of financial position account and one income statement account.
• B) is another name for a closing entry.
• C) may involve any combination of accounts.
• D) is a required step in the accounting cycle.

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Definitions:

Defined Benefit Plans

A type of pension plan where an employer promises a specified pension payment upon retirement, based on an employee's earnings history, tenure of service, and age.

Civil Rights Act

A landmark piece of federal legislation in the United States that outlaws discrimination based on race, color, religion, sex, or national origin.

Woman Engineer

A female professional engaged in the practice of engineering, which involves the application of scientific principles to design, develop, and maintain structures, machines, materials, systems, and processes.

Qualified Black Attorney

A legal professional who identifies as Black and has met the necessary education, licensing, and certification requirements in their jurisdiction.