Which Data Types Are Typically Found in the Accounting Department

question 237

Multiple Choice

Which data types are typically found in the accounting department?

• A) Promotion data, sales data, advertising data.
• B) Employee data, promotion data, vacation data.
• C) Investment data, monetary data, reporting data.
• D) Transactional data, purchasing data, payroll data, tax data.

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Definitions:

Amortized

This refers to the process of gradually paying off a debt through regular payments over a set period, factoring in both principal and interest.

Legal Life

The duration for which an asset is protected or regulated by legal rights, often referring to intellectual property or contractual agreements.

Patent

An exclusive right granted for an invention, which provides the patent holder with protection for the invention from commercial exploitation by others.

Intangible Asset

An asset that lacks physical substance, such as patents, trademarks, goodwill, and copyrights, which can nonetheless provide economic benefits.