When a Transaction Results in an Account with a Balance

question 74

True/False

When a transaction results in an account with a balance that isn't "normal," the "abnormal" balance should be corrected to the "normal" balance before copying the balance into the trial balance.

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Definitions:

Normative Values

Principles or standards of behavior that are considered important in a particular society or group.

Codes Of Ethics

Written guidelines issued by an organization to its workers and management to help them conduct their actions in accordance with its primary values and ethical standards.

Corporate Conduct

The behavior of a corporation, including its practices, ethics, and the way it interacts with stakeholders and the environment.

Ethical Awareness

The recognition and understanding of ethical issues and standards in one’s personal and professional life.