What Is It Called When Each Transaction, Entity, and Event

question 68

Multiple Choice

What is it called when each transaction, entity, and event is represented only once in the information?

• A) Uniqueness
• B) Accuracy
• C) Consistency
• D) Timeliness

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Definitions:

Cash Cycle

The duration of time it takes for a company to convert its investments in inventory and other resources into cash flows from sales.

Credit Sales

Transactions where goods or services are sold by a company with payment to be received at a later date.

Operating Cycle

The duration between a company's purchase of inventory and the receipt of cash from accounts receivable.

Accounts Receivable Period

The average number of days it takes for a business to receive payments owed by its customers for goods or services provided.