An Approach That Enters and Processes Data into the Accounting

question 81

Multiple Choice

An approach that enters and processes data into the accounting system as soon as source documents are available is called:

• A)Date storage.
• B)Batch processing.
• C)Online processing.
• D)Computer programming.
• E)Web communications.

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Definitions:

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a business, including materials, labor, and manufacturing overhead.

Manufacturing Company

A business engaged in the production of goods using labor, machinery, and raw materials.

Direct Materials

Raw materials that are directly traceable to the manufacturing of a product and are an essential component in its production.

Factory Overhead

All indirect costs associated with manufacturing, such as maintenance, utilities, and quality control, not directly tied to the production of specific goods.