Journalizing Is the Analysis of the Effects of a Transaction

question 7

True/False

Journalizing is the analysis of the effects of a transaction on the accounts,usually accompanied by an explanation.

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Definitions:

Poverty

The state of having insufficient financial resources to meet basic living needs such as food, shelter, and clothing.

Ethical Relativist

An individual who believes that morality is relative to the norms of one's culture, meaning that what is considered moral in one society may be considered immoral in another.

Central Authority

A central authority is a governing body or administrative organization that has primary responsibility for overseeing a specific area of policy or regulation at a national or international level.

Koran

The holy book of Islam, believed to be the word of God (Allah) as dictated to Muhammad over a 23-year period.