An Unacceptable Way to Make a Correcting Entry Is to

question 146

Multiple Choice

An unacceptable way to make a correcting entry is to

• A) reverse the incorrect entry, then prepare the correct entry.
• B) erase the incorrect entry.
• C) compare the incorrect entry with the correct entry and make a correcting entry to correct the accounts.
• D) correct it immediately upon discovery.

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Definitions:

Long Term Strategic

Pertaining to long-range planning and actions aimed at achieving major goals or objectives.

Marketing Costs

Expenses related to promoting, selling, and distributing a product or service.

Design Costs

Expenses incurred during the planning and development phase of a product, including labor, materials, and overhead associated with creating the design.

Research and Development

Activities undertaken by companies or governments in innovation and improvement of services or products.