What Is Information Technology

question 40

Multiple Choice

What is information technology?

• A) Any computer-based tool that people use to work with information and support the information and information-processing needs of an organization
• B) The set of instructions that the hardware executes to carry out specific tasks
• C) Consists of the physical devices associated with a computer system
• D) An electronic device operating under the control of instructions stored in its own memory that can accept, manipulate, and store data

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Definitions:

Outstanding Checks

Checks that have been written and recorded in the payer's accounting system but have not yet been cleared or cashed by the recipient.

Bank Statement

A summary of financial transactions that have occurred over a given period on a bank account held by a person or business with a financial institution.

Notes Receivable

Claims against debtors that are supported by formal agreements or promissory notes, specifying the amounts owed and payment terms.

Discount On Notes Receivable

An amount deducted from the face value of a note to reflect the interest revenue over the term of the note.