A Special Journal Is Used to Record and Post Transactions

question 169

True/False

A special journal is used to record and post transactions of a similar type.

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Definitions:

Racketeer Influenced and Corrupt Organizations (RICO) Act

A United States federal law designed to combat organized crime by enabling the prosecution of criminal organizations for the actions of their members.

Wrongful Act

An action that is illegal or immoral, often leading to harm or injury to another and possibly resulting in legal liability.

Actus Reus

Latin for “guilty act”; a wrongful behavior that is associated with the physical act of a declared crime.

Guilty Act

Refers to the actus reus in criminal law, which is the physical act or unlawful omission leading to a crime.