Select the Statement That Is Not True with Respect to Blockchain

question 103

Multiple Choice

Select the statement that is not true with respect to blockchain technology

• A)Blockchain's greatest potential is adding value to the company's logistics process
• B)Blockchain can increase the visibility of each aspect of the production process
• C)Blockchain technology is only utilized in the general ledger process
• D)All of the answers are true

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Definitions:

Purchase Returns

Goods returned by the buyer to the seller, usually because they are defective or not as per the order placed.

Freight In

A cost associated with transporting goods into a business, often included in the cost of goods sold because it directly relates to the cost of bringing inventory to the business.

Contra Account

An account used in the general ledger to reduce the value of a related account without adjusting the original account directly.

Sales Returns

Transactions where customers return previously purchased merchandise, resulting in a refund or credit.