Which of the Following Statements Is False

question 56

Multiple Choice

Which of the following statements is false?

• A) The typical B/AR/CR system assists in preparing internal and external reports.
• B) Cash receipts can be accelerated by using some form of EFT.
• C) The two types of adjustments that commonly result from a periodic review of the aging details of customer account balances are a recurring entry for estimated bad debts and a bad debt write-off.
• D) Cash receipts events data are comprised of one or more invoice records.

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Definitions:

Compute

To calculate or process data using a computer or mathematical algorithms.

Weight

A measure of the heaviness of an object, typically defined by the force of gravity on it.

Current Account Deficit

A situation where a country's spending on foreign trade and investment exceeds its income from the export of goods and services.

Foreigners

Individuals from a country other than the one in which they are currently present, often referring to non-citizens or non-natives.