Customer Information May Be Changed by Editing the Chart of Accounts

question 48

True/False

Customer information may be changed by editing the Chart of Accounts.

---

Definitions:

Unit Cost

The cost incurred to produce, store, and sell one unit of a product or service.

Unit Price

The cost assigned to a single unit of a product or service.

Journal Entries

Records of financial transactions in a company’s accounting system, providing a chronological record.

Periodic Inventory System

An inventory system that updates inventory balance after a certain period, typically incorporating physical counts to determine cost of goods sold.