Several Terms Which Represent Components of an Accounting System Are

question 11

Essay

Several terms which represent components of an accounting system are listed below. For each term, write a brief explanation of how that component is used in the accounting cycle.

---

Definitions:

PCI Compliance

Refers to adherence to the Payment Card Industry Data Security Standard, a set of security standards designed to protect card information during and after financial transactions.

Credit Card Companies

Financial institutions that issue credit cards to consumers, allowing them to borrow funds within a pre-approved limit for purchases or cash advances.

Unsupervised Learning

A type of machine learning where the algorithm learns patterns from untagged data without any guidance.

Data Labeling

The process of identifying raw data (such as images, text files, videos) and adding meaningful and informative labels to them, making it easier for machine learning models to understand.