A Check Digit Is an Extra Digit That Is Added

question 103

True/False

A check digit is an extra digit that is added to the identification number of entities to help control the accuracy with which the number is entered into a computer system.

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Definitions:

Interest Expense

The cost incurred by an entity for borrowed funds over a specific period, including loans, bonds, or lines of credit.

Earnings Per Share

A company's net income divided by the number of outstanding shares of its common stock.

Net Income

The total earnings of a company after subtracting all expenses, including taxes and operational costs, from its total revenue.

Preferred Dividends

Preferred dividends are payments made to preferred shareholders before any dividends are paid to common shareholders, usually fixed and based on a percentage of the par value of the shares.