Manual Accounting Systems Are Never Used in Real Life

question 48

True/False

Manual accounting systems are never used in real life.

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Definitions:

Negotiable Instrument

A written document guaranteeing the payment of a specific amount of money, either on demand or at a set time, to the person possessing it.

Intelligence

The ability to acquire and apply knowledge and skills, or information gathered for analysis in contexts such as security or business.

Authorized Agent

An individual or entity that is officially permitted to act on behalf of another person or organization.

Dishonors

Refers to the refusal by a bank to pay the amount stipulated in a check or draft when presented.