Accounting Software Is a Simplified Financial Program That Helps Home

question 176

True/False

Accounting software is a simplified financial program that helps home users and small office/home office users balance their checkbooks, pay bills, track personal income and expenses, set up budgets, manage home inventory, track investments, and evaluate financial plans.

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Definitions:

Dividends

Payments made by a corporation to its shareholder members, distributing a portion of the company's earnings.

Objective of Accounting

The main purpose of accounting, which is to record financial transactions, summarize and report financial information accurately for decision making.

Decision Making

The cognitive process of selecting a course of action from multiple alternatives to achieve a desired goal.

Account Numbers

Unique identifiers assigned to individual accounts within a financial management system or bank.