The Only Language That Computer Hardware Understands Is a Series

question 31

True/False

The only language that computer hardware understands is a series of electrical signals that represent bits and bytes.

Identify the similarities and differences between job order costing in service and manufacturing sectors.

Develop skills to prepare journal entries for closing the factory overhead accounts.

Interpret the implications of debit and credit balances in factory overhead accounts.

Understand the structure and terminology of organizational charts.

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Definitions:

Net Income

The remaining earnings of a company once expenses and taxes are subtracted from the gross revenue.

Times Interest Earned Ratio

A financial ratio that measures a company’s ability to meet its interest obligations based on its earnings before interest and taxes (EBIT).

Default

Failure to fulfill a financial obligation, such as missing a loan repayment.

Debt

An amount of money borrowed by one party from another, often for making large purchases that they could not afford under normal circumstances, which needs to be paid back.