Standardized Services Refers to Data That Are Collected in a Standard

question 16

True/False

Standardized services refers to data that are collected in a standard format and made available to all subscribers. Such data are stored in a common database and the same data are made available to subscribers for a fee.

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Definitions:

Wages Payable

Wages payable is a liability account that records the amounts owed to employees for work that has been performed but not yet paid.

Capital Lease Contracts

Lease agreements that transfer substantially all risks and rewards of ownership from the lessor to the lessee, effectively treated as a purchase.

Computer Software

Computer Software encompasses programs and operating information used by a computer, directing how the hardware processes data and performs tasks.

Bond Issue

The process by which a government, corporation, or other entity raises funds by issuing bonds to investors.