When a Correction for a Transaction Is Made, QuickBooks Not

question 17

True/False

When a correction for a transaction is made, QuickBooks not only makes changes to the form used to record the transaction; it also changes all journal and account entries for the transaction to reflect the correction.

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Definitions:

Pigouvian

Relating to taxes or policies introduced to correct the effects of negative externalities in the market.

Public Park

A space, whether natural, partially natural, or man-made, dedicated to recreational activities for humans or the conservation of wildlife and natural ecosystems.

Optimum

The most favorable condition or level for growth, reproduction, or success.

Socially Optimal

The point at which the benefits to society of an action, policy, or project, are maximized, taking into account all costs and benefits.