The Recording of Financial Transactions Either Manually or Electronically Is

question 61

Multiple Choice

The recording of financial transactions either manually or electronically is called

• A) accounting
• B) bookkeeping
• C) preparing financial statements
• D) auditing
• E) systems design

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Definitions:

Implied Title

A legal concept indicating that ownership is suggested or inferred through actions or circumstances rather than explicitly conveyed via a formal document.

Passing of Title

The act of transferring the ownership of property from one person or entity to another.

Real Property

Land and everything permanently attached to it.

Lease Contracts

Agreements in which one party grants another the use of property, equipment, or premises for a specified period in exchange for rental payments.