The Four Main Cost Factors in Records and Information Include

question 14

True/False

The four main cost factors in records and information include, managerial, operating personnel, physical to electronic records conversions, and supervisory costs. ​

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Definitions:

Accounts Payable

Liabilities or amounts owed by a company to its creditors for goods and services received that have not yet been paid for.

Journal Entry

A record in bookkeeping that documents every financial transaction, detailing the accounts affected and whether they are debited or credited.

Interest-Bearing Note

A debt instrument that pays interest to the holder, typically at a fixed rate, until the note reaches its maturity date.

360-Day Year

An accounting convention that simplifies interest calculation by assuming twelve 30-day months, used mainly in financial markets.