Adjusting Journal Entries Still Need to Be Made After the Worksheet

question 67

True/False

Adjusting journal entries still need to be made after the worksheet is completed; otherwise the account balances will not be correct.

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Definitions:

Validity Effect

The tendency to believe information is correct or valid simply because it has been repeated many times.

Cognitive Dissonance

A psychological discomfort experienced when holding two or more conflicting cognitions (beliefs, attitudes, or behaviors).

Groupthink

A psychological phenomenon that occurs within a group of people when the desire for harmony or conformity in the group results in an irrational or dysfunctional decision-making outcome.

Self-Censorship

The act of withholding one's thoughts, opinions, or feelings due to fear of social or official repercussions.