Why Do Students Need to Study Information Technology

question 404

Multiple Choice

Why do students need to study information technology?

• A) Information technology is everywhere in business
• B) Information technology is frequently discussed in business
• C) Information technology is frequently used in organizations
• D) All of these choices

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Definitions:

Ledger

A book or collection of financial accounts where all transactions are summarized and recorded using a double-entry bookkeeping system.

Adjusted Trial Balance

A listing of all company accounts that will appear in the financial statements after making adjusting entries.

Closing Entries

Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent ones, thereby preparing the company's books for the next accounting period.

Adjusted Balances

Financial statement figures corrected for errors, omissions, or other adjustments as part of the reconciliation process.