Review the Below Key Terms

question 67

Multiple Choice

Review the below key terms. Which one defines an operational decision that involves situations where established processes offer potential solutions?

• A)Optimization analysis decision
• B)Artificial intelligence decision
• C)Structured decision
• D)Unstructured decision

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Definitions:

Reversing Entry

An accounting entry that effectively cancels out a previous entry, typically used at the beginning of a new accounting period to simplify record-keeping.

Collection Of The Note

The process of receiving the payment due from the issuer as specified in the note payable.

Deposits In Transit

Funds that have been transferred or deposited by a company but not yet reflected in the bank's records.

Notes Collected

Notes collected refer to the process of receiving payment or settling the amount due on promissory notes that a company holds, impacting its cash flow.