__________ Is a Microchip Technology Used to Pay Bridge and Highway

question 3

Short Answer

__________ is a microchip technology used to pay bridge and highway tolls and to track inventory,among other uses.

---

Definitions:

Cash Basis

An accounting method where revenues are recognized when cash is received, and expenses are recognized when cash is paid out.

Administrative Expenses

Expenses incurred that are not directly tied to a specific function like manufacturing, production, or sales, usually including items like rent, utilities, and management salaries.

Operating Expenses

Costs associated with the day-to-day operations of a business, such as rent, utilities, salaries, and maintenance, but not including cost of goods sold.

Adjusting Entries

Accounting records created at the close of a fiscal period to distribute revenues and expenses to the timeframe they genuinely transpired.