The Accounting Cycle Element That Would Benefit the Most from Using

question 92

Multiple Choice

The accounting cycle element that would benefit the most from using a computer is

• A) journalizing.
• B) posting.
• C) summarizing.
• D) correcting errors.

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Definitions:

Interest

The cost of borrowing money, typically expressed as a percentage of the amount borrowed, paid by borrowers to lenders.

Savings Account

A deposit account held at a bank or other financial institution providing principal security and a modest interest rate.

Opportunity Cost

The deficit of potential benefits that could be reaped from alternative options when one is picked.

Dollar Value

The worth of an item, service, or amount of money expressed in terms of the United States dollar currency.