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Your employees have been appropriately engaging in a particular behavior for several years and have been positively reinforced for doing so.A change in the law now makes this behavior unacceptable.What should you do?
General Ledger
A complete record of all financial transactions made over the life of a company.
Asset Accounts
Accounts on a company's balance sheet that represent valuable resources controlled by the company and that have future economic value.
Liability Accounts
Accounts on a company's balance sheet that represent what the company owes to others, such as loans, accounts payable, mortgages, and accrued expenses.
Journal Entries
The recording of financial transactions into the accounting records, specifying the accounts affected by those transactions.
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