Computerized Accounting Systems

question 80

Multiple Choice

Computerized accounting systems

• A) are only used by medium- and large-sized companies
• B) are generally not as accurate as manual systems
• C) record and post transactions at the same time
• D) must make use of special journals

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Definitions:

Paid Today

A financial transaction or settlement completed on the current date.

Paid

The state of having been transferred money in exchange for goods or services.

Economic Value

A measure of the worth of goods or services based on their ability to fulfill needs or desires.

Interest Rate

The interest rate is the percentage of a loan amount that a lender charges as interest to the borrower, typically expressed as an annual percentage of the principal.