Information Can Tell an Organisation How It Is Currently Performing

question 6

True/False

Information can tell an organisation how it is currently performing and help it estimate and strategise for future plans and performance.

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Definitions:

Cash Sale

A transaction in which goods or services are paid for at the time of the sale using cash or other immediate forms of payment.

Credit Sale

A transaction where goods or services are provided to a customer with the agreement that payment will be made at a later date.

Record Keeping

The practice of maintaining and preserving documents, files, and records related to financial transactions for future reference.

Credit Terms

The conditions under which credit is extended by a seller to a buyer, including payment deadlines and any possible discounts for early payment.