The Following Adjusting Journal Entry Found in the Journal Is

question 1

Multiple Choice

The following adjusting journal entry found in the journal is missing an explanation. Select the best explanation for the entry.

• A) Record payment of taxes.
• B) Record taxes expense incurred and to be paid in next period.
• C) Record taxes paid in advance.
• D) Record tax bill received from government.

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Definitions:

Groupthink

A phenomenon where a group makes faulty decisions because of group pressures, leading to a deterioration in mental efficiency, reality testing, and moral judgment.

Dissenting Opinions

Minority opinions in a legal case, written by judges who disagree with the majority decision in appellate court rulings.

Groupthink

A phenomenon occurring within a group of people in which the desire for harmony or conformity results in an irrational or dysfunctional decision-making outcome.

Consensus

A general agreement or shared understanding among a group of people, often achieved through collective decision-making processes.