Which of the Following Is NOT True Regarding Businesses and Databases

question 99

Multiple Choice

Which of the following is NOT true regarding businesses and databases?

• A)Records are collected and used for decision making,for sales and marketing,and for reporting purposes.
• B)Businesses keep records about everything they do.
• C)The purpose of a database is to store,manage,and provide access to the business records.
• D)Today's businesses use automated databases to store their records and have completely eliminated paper-based systems.

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Definitions:

Accounts Payable

The amount of money a company owes to its suppliers or creditors for goods and services purchased on credit.

Working Capital

The difference between a company's current assets and current liabilities, indicating the short-term financial health and operational efficiency of the business.

Cost of Trade Credit

The effective interest rate associated with taking discounts offered by suppliers for early payment or the cost of forgoing those discounts.

Net 30

A payment term indicating that full payment is due within 30 days of the invoice date.