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According to the text, data transcription would only be necessary for a computerized accounting information system.
Signing Bonus
A signing bonus is a one-time payment given to an individual upon accepting a new job offer, often used as an incentive for recruitment.
Lump Sum Payment
A single payment made for the total amount owed, rather than breaking the payment into installments, often used in settling debts or purchasing goods.
Simple Interest
A method of calculating the interest charge on a loan or financial product based on the original principal amount and the interest rate over a period of time.
Principal Amount
This is the original sum of money borrowed in a loan or put into an investment, not including any interest or dividends.
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