A Logical Data Flow Diagram Shows How the Business Operates

question 10

True/False

A logical data flow diagram shows how the business operates.

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Definitions:

Financial Statements

Reports that summarize the financial health, performance, and cash flows of a business for a specific period, typically including the balance sheet, income statement, and cash flow statement.

Debit

An accounting entry that results in either an increase in assets or a decrease in liabilities or equity on a company's balance sheet.

Credit

A bookkeeping record that enhances a liability or equity balance, or diminishes an asset or expenditure balance.

Debits

An accounting entry that increases an asset or expense account, or decreases a liability or equity account, recorded on the left side of the ledger.