Called "On Demand" Computing, This Approach Requires an Organization to ____

question 51

Multiple Choice

Called "on demand" computing, this approach requires an organization to ____.

• A) pay the service provider periodically as requested by the provider
• B) use virtual computers
• C) request the service provider for services well in advance of needing them
• D) pay only for the computer power it uses, just as it would for a utility such as electricity

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Definitions:

Deposits in Transit

Funds that have been recorded by a company but not yet by its bank, typically due to timing differences.

Bank Reconciliation

The process of comparing and adjusting a company's book balance of an account with the balance reported by a bank to find any possible discrepancies.

Company's Books

The complete set of financial records of a business, capturing all transactions, accounting entries, and financial statements.

Payment of a Voucher

The process of settling a voucher, which is a document evidencing a transaction and authorizing payment.