Extranets Give Distributors and Suppliers Access to a Company's Database

question 12

True/False

Extranets give distributors and suppliers access to a company's database to place orders or restock inventories electronically and automatically.

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Definitions:

Financial Statements

Reports that provide an overview of a company's financial condition, including balance sheets, income statements, and cash flow statements.

Income Summary

An account used in the closing process that summarizes the revenues and expenses for a period, helping to determine the net income or loss.

Revenue Account

An account that tracks the income earned by a business from its normal operations, such as sales of goods or services.

Capital

Financial resources or assets owned by a business, used to fund operations and investments.