Which Code Is Necessary for Instructing Either the Computer or the Decision

question 8

Multiple Choice

Which code is necessary for instructing either the computer or the decision maker about what action to take?

• A) function code
• B) mnemonic code
• C) classification code
• D) simple sequence code

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Definitions:

Partial Derecognition

The process in accounting where only a portion of a financial asset or liability is removed from the balance sheet.

Receivables

These are amounts owed to a business by its customers for goods or services delivered on credit.

GAAP

Generally Accepted Accounting Principles, a set of accounting rules and standards used in the United States for preparing financial statements.

IFRS

A collection of worldwide accounting rules for financial reporting, known as International Financial Reporting Standards.