Explain the Optimal Conflict Perspective

question 29

Essay

Explain the optimal conflict perspective.

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Definitions:

Double-Entry Bookkeeping System

An accounting method that records each transaction in two accounts, ensuring the accounting equation balances.

Single-Entry System

An accounting method where each financial transaction is recorded with a single entry to the accounting records, not offering the check balance of double-entry bookkeeping.

Charges

Fees or prices asked for goods and services, or accusations made against someone in a legal context.

Payments

Transactions or transfers of money that are made to settle a debt or an account.