Corrections Are Entries Made to Correct Errors Found in

question 73

Multiple Choice

Corrections are entries made to correct errors found in

• A)all journals.
• B)special journals.
• C)the general ledger.
• D)the financial statements.

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Definitions:

Direct Operating

Expenses directly associated with the day-to-day operations of a business, such as costs for materials and labor used in producing goods or services.

Sporting Goods Department

A section within a retail store or company that specializes in selling equipment and apparel for various sports and outdoor activities.

Direct Expense

A cost that can be directly traced to producing specific goods or services, such as raw materials and labor.

Profit Center

A segment of a business that is responsible for generating its own revenue and profit.