When Selecting Timekeeping and Billing Software, One Feature to Look

question 18

True/False

When selecting timekeeping and billing software, one feature to look for is a program that allows users to define a list of timekeepers and activities.

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Definitions:

Market Value

Market value is the current price at which an asset or service can be bought or sold in the open market.

Prepaid Expense

An expense paid in advance of its due date, recorded as an asset on the balance sheet until the benefits are realized or the service period expires.

Magazine Subscription

A magazine subscription is an agreement to receive or gain access to periodic issues of a magazine over a specified period, usually in return for a payment.

Paid

Refers to the status of an obligation or invoice that has been settled or fulfilled through payment.