A Credit Balance in a Liability Account Indicates That an Error

question 6

True/False

A credit balance in a liability account indicates that an error in recording has occurred.

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Definitions:

Collective Action

Occurs when people act in unison to bring about or resist social, political, and economic change.

Sporadic

Occurring at irregular intervals or only in a few places; scattered or isolated.

Violent

Violent pertains to actions involving physical force intended to hurt, damage, or kill someone or something, often associated with aggression and conflict.

Collective Action

The action taken together by a group of people whose goal is to enhance their status and achieve a common objective.