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:

Trust

The firm belief in the reliability, truth, ability, or strength of someone or something.

Poorly Done

Executed or performed in a manner that fails to meet the required or expected standards.

Resentment

A feeling of displeasure or indignation at some act, remark, or person regarded as causing injury or insult.

Proxemics

The study of how humans use space in communication, including the physical distance between individuals in social, personal, and public spaces.