The Development of Cloud Computing in the 1970s Led to the Automation

question 33

True/False

The development of cloud computing in the 1970s led to the automation of data management and analysis for larger firms.

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Definitions:

Subsidiary Ledger

A detailed ledger containing account information that supports the summary amounts recorded in a general ledger.

General Journal

A primary accounting record where financial transactions are entered before being posted to ledger accounts.

Accounts Receivable

Represents money owed to a company by its customers for goods or services that have been delivered or used but not yet paid for.

Horizontal Analysis

A technique in financial analysis where line items on financial statements are compared across subsequent periods to identify trends or significant changes.