Bar Codes and Document Scanners Are Common Methods of Electronically

question 29

True/False

Bar codes and document scanners are common methods of electronically capturing data.

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Definitions:

Perpetual Inventory Method

An inventory tracking system that records the sale or purchase of inventory immediately through the use of computerized point-of-sale systems and enterprise asset management software.

Accounts Payable

Liabilities of a business that represent money owed to suppliers for purchases made on credit.

Merchandise Inventory

Goods or stock held by a business for the purpose of resale to customers.

Purchase Discounts

Reductions in price given by suppliers for early payment or bulk purchasing.