A Large Disk Storage for Accounting and Operating Data Is

question 83

Multiple Choice

A large disk storage for accounting and operating data is referred to as a(n) :

• A)Operating system
• B)Application
• C)Database
• D)Binary monetary system

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Definitions:

Interest Accrued

The accumulation of interest on a loan or bond that has been earned but not yet paid.

Periodic Inventory Method

An inventory accounting method where physical counts are used to determine the cost of goods sold and ending inventory at specific intervals.

Petty Cash

A small amount of cash on hand used for covering minor expenses in an organization.

Periodic Inventory Method

An accounting method where inventory is updated and the cost of goods sold (COGS) is calculated at the end of an accounting period, instead of recording inventory transactions as they happen.