Special Journals Are Particularly Efficient For

question 24

Multiple Choice

Special journals are particularly efficient for:

• A)similar, repetitive transactions.
• B)unusual transactions.
• C)transactions that require recording in 3 or more accounts.
• D)transactions that are corrections of previous errors.

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Definitions:

Construction Firm

A business entity engaged in the construction of buildings, infrastructure, and other physical structures.

Sunk Cost

Costs that have already been incurred and cannot be recovered.

Economic Perspective

A viewpoint that envisions individuals and institutions making rational decisions by comparing the marginal benefits and marginal costs associated with their actions.

Third Industrial Revolution

The digital revolution that began in the late 20th century, marked by the spread of information and communication technology.