The Most Effective Method of Online Data Entry Is ____________________

question 16

Short Answer

The most effective method of online data entry is ____________________, in which a blank form that duplicates or resembles a source document is completed on the screen.

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Definitions:

Net Income

Represents the total profit of a company after all expenses, including taxes and operating costs, have been subtracted from total revenue.

Closing Entries

Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent accounts, closing out the revenue and expense accounts.

Post-closing Trial Balance

A financial statement prepared after all adjusting and closing entries are made, ensuring the total debits equal total credits.

Ledger Accounts

Individual financial records within the general ledger, detailing transactions related to a specific account category.