If I Discovered That I Unintentionally Violated a Federal Environmental

question 232

True/False

If I discovered that I unintentionally violated a federal environmental regulation, I should just wait and see if anything happens before taking any action.

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Definitions:

Subsidiary Ledger

A detailed ledger that contains the individual accounts related to a specific main account, facilitating detailed tracking and reconciliation.

General Ledger

The primary accounting record of a company that uses double-entry bookkeeping, summarizing all transactions into debits and credits.

Allowance Account

A contra asset account that reduces the gross amount of receivables to reflect a more accurate value of expected collections.