A Correcting Entry

question 94

Multiple Choice

A correcting entry

• A) must involve one balance sheet 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:

Logarithm

The logarithm is the power to which a number, called the base, must be raised to produce a given number. For example, in base 10, the logarithm of 1000 is 3 because 10 raised to the power of 3 is 1000.

Logarithm

The power to which a base, typically 10 or e, must be raised to produce a given number.

Logarithm

The exponent or power to which a base number must be raised to produce a given number.

Logarithmic Equation

An equation involving logarithms, where the variable is located within the logarithm.