If an Entry Has Been Posted to the Accounts Twice

question 86

True/False

If an entry has been posted to the accounts twice, the trial balance will still balance.

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Definitions:

Exchange-Rate Effect

Refers to the impact of changes in the exchange rate on a country's export and import prices, and subsequently on its trade balance.

Aggregate-Demand Curve

A graphical representation showing the relationship between the total quantity of goods and services demanded (aggregate demand) and the overall price level, all else being equal.

Foreign Exchange Markets

Markets where currencies are traded, enabling businesses and individuals to convert one currency into another for various purposes including trade, investment, and tourism.

Long-Run Aggregate Supply Curve

A graphical representation showing the relationship between the overall price level and the total output that firms in the economy are willing to produce when all prices, including nominal wages, are fully flexible.