The Term "White-Collar Crime" Was Not Used Until the 1930s

question 107

True/False

The term "white-collar crime" was not used until the 1930s to describe the criminal activities of the wealthy and powerful.

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Definitions:

Unadjusted Trial Balance

A list of all accounts and their balances in a company's ledger before any adjusting entries are made.

Ledger

A book or other collection of financial accounts of a particular type, where transactions are recorded.

Account Balances

The total amount of money in a financial account, determined by adding all credits and subtracting all debits.

Accrued Expenses

Expenses that have been incurred but not yet paid for, resulting in a liability recorded on the balance sheet.