What Does Reliability Ensure

question 81

Multiple Choice

What does reliability ensure?

• A) The system has the ability to operate in many different operating systems
• B) The system is easy to learn and efficient and satisfying to use
• C) The system is functioning correctly and providing accurate information
• D) The time frames when the system is operational

---

Definitions:

Cash Discounts

These are deductions allowed by sellers on invoice amounts if the buyer pays promptly within a specified period, serving as an incentive for early payment.

Perpetual Inventory System

An inventory management method where records are continuously updated to reflect buys, sells, and stock levels in real-time.

Gross Method

An accounting practice where discounts for early payment are not considered until they are actually taken by the purchaser.

Credit Terms

Conditions under which credit is extended by a seller to a buyer, including the repayment period, interest rate, and penalties for late payment.