Capturing Information Directly from the Source Through Such Systems as Point-Of-Sale

question 51

True/False

Capturing information directly from the source through such systems as point-of-sale, radio-frequency identification tags, bar-code scanners, and automatic recognition has had little impact on Operations and Supply Chain Management.

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Definitions:

Rent Expense

An accounting term that refers to the cost incurred by a company to utilize property or equipment for business operations, typically recognized over the lease term.

Adjusting Entry

An entry made in the books of accounts to correct or allocate incomes and expenditures to the appropriate accounting periods.

Debit

A financial record that leads to a rise in a company's assets or a reduction in its liabilities on the balance sheet.

Credit

An accounting entry that increases liabilities or equity or decreases an asset or expense.