Information Technology (IT)consists of All Hardware and Software That a Firm

question 39

True/False

Information technology (IT)consists of all hardware and software that a firm needs to use in order to achieve its business objectives.

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Definitions:

Factors Receivables

The process of selling accounts receivable to a third party (factor) at a discount in exchange for immediate cash.

Accounts Payable

The amounts owed by a company to suppliers or creditors for goods and services received.

Cost of Goods Sold

Expenses directly tied to the production process of goods a company markets, including both materials and labor costs.

Accounts Receivable

The amount due from customers to a firm for the delivery of goods or services which remains unpaid.