The Packed Decimal Format Is Commonly Used to Save Space

question 74

True/False

The packed decimal format is commonly used to save space on file layouts and for elements that require a high level of arithmetic to be performed on them.

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Definitions:

Statement of Income

A financial document that reports a company's financial performance over a specific period, detailing revenues, expenses, and profits.

Depreciable Amount

The total cost of a tangible fixed asset minus its expected residual value at the end of its useful life.