A Total Institution Is One

question 61

Multiple Choice

A total institution is one:

• A) in which a person undergoes a religious conversion.
• B) that controls all aspects of a person's life.
• C) that is comprehensive, yet voluntary.
• D) that is always entered into against one's will.

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Definitions:

Credit Entries

Credit entries are accounting entries that increase liabilities or equity or decrease assets, recorded on the right side of an accounting ledger.

Cash Account

A ledger account that tracks cash transactions, including receipts and payments, highlighting the available cash balance.

Normal Balances

The side (debit or credit) of an account that is increased, reflecting the conventional balance based on the account's classification within the accounting equation.

Dividends Declared

A statement by a company's board of directors announcing the issuance of dividends to shareholders; it signifies an obligation to make the dividend payments announced.