Providing Quantitative Information That Management and Others Can Use to Make

question 29

Multiple Choice

Providing quantitative information that management and others can use to make decisions is the function of:

• A) auditing.
• B) accounting.
• C) finance.
• D) management information systems.

---

Definitions:

Perpetual Inventory

An inventory management system that continuously tracks the quantity and value of inventory, updating records in real-time as transactions occur.

Credit Terms

The conditions under which credit is extended by a lender to a borrower, including repayment time frame and interest rate.

Credit Terms

The conditions under which a seller extends credit to a buyer, including the repayment period and any discount for early payment.

Inventory

The complete list of items such as goods, property, and raw materials a company holds for the purpose of resale or repair.