A Remittance Advice Is an Example of Which Generic Element

question 49

Multiple Choice

A remittance advice is an example of which generic element of an accounting information system?

• A)Document
• B)Storage
• C)Both A and B
• D)Neither A nor B

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Definitions:

Voting Stock

Shares that give the shareholder the right to vote on matters of corporate policy and the election of the board of directors.

Foreign Corporation

A company that is incorporated under the laws of a country different from the country of its primary operations.

Inventory

The total amount of goods and materials held by a business for the purpose of sale or production, including raw materials, work-in-process, and finished goods.

Consolidated Income Tax Return

A single income tax return filed by a parent company that includes all incomes, deductions, and credits of all members of a corporate group.