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Narrative 16-1 Take a Look in Your Purse or Wallet-Do You See

question 87

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Narrative 16-1
Take a look in your purse or wallet-do you see an Air Miles card
You and about 10 million Canadians have one. They can be used at stores including Shell,Sobeys,Rexall,and others. They work by recording your purchase history and uniquely linking it to your Air Miles program number. You can redeem the points you acquire for rewards in various forms.
-Refer to Narrative 16-1. For which of the following would Air Miles use firewalls?


Definitions:

Operations

The day-to-day activities involved in running a business that lead to the production of goods and delivery of services.

Journalizing

Journalizing is the process of recording transactions in a company's journal prior to posting them to the general ledger.

Posting Process

The procedure of transferring entries from a company's journal into the appropriate accounts in its ledger, which helps in summarizing financial activities.

Trial Balance

A financial record-keeping sheet that consolidates the balances of various ledgers into uniform debit and credit column totals.

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