After the Accounting Information Has Been Input into the Accounting

question 34

Multiple Choice

After the accounting information has been input into the accounting system, it must be processed.Process accounting data involves:

• A) Source documents and keying
• B)Bar codes and point of sale
• C)Electronic data interchange and e-business
• D)Calculations, classification, and summarization.

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Definitions:

Uniform Commercial Code

The Uniform Commercial Code (UCC) is a comprehensive set of laws governing commercial transactions in the United States, aiming to make business laws more consistent across states.

Rights of First Refusal

A contractual right that gives its holder the option to enter a business transaction with the owner of something, before the owner is entitled to enter into that transaction with a third party.

Disaffirm

The legal right of a party to deny or reject the validity of a contract or agreement.

Trade

The exchange of goods, services, or both between parties, either within a country or between countries, often for money.