An Agreement Between Parties in a Court Action Before, and Instead

question 29

Multiple Choice

An agreement between parties in a court action before, and instead of, a decision by a judge is called a

• A)consent agreement.
• B)consent decree.
• C)lawsuit.
• D)modus operandi.

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Definitions:

Ethical Standards

Principled guidelines that govern the conduct of individuals and organizations, ensuring actions are morally right and fair.

General Journal

The bookkeeping record in which all types of transactions are recorded in chronological order before they are transferred to specific accounts in the ledger.

General Ledger

The comprehensive set of accounts that records all financial transactions of a business, serving as the central repository of accounting data.

Subsidiary Ledger

A detailed ledger that provides a breakdown of information summarized in a controlling account in the general ledger.