A(n) ________ Is a Private, Self-Regulating Policy and Enforcement Mechanism

question 74

Short Answer

A(n) ________ is a private, self-regulating policy and enforcement mechanism that meets the objectives of government regulators but does not involve government enforcement.

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Definitions:

T-account

A graphical representation of a ledger account that is used for educating and understanding accounting.

Transaction Date

The exact date on which a financial transaction occurred or was executed.

General Journal

A primary accounting record used to record financial transactions that cannot be processed in specialized journals, documenting the full detail of each transaction.

Chart of Accounts

The chart of accounts is a systematic listing of all account titles and numbers used in a company's accounting system, facilitating organization and financial reporting.