EDI Is Still a Popular Data-Transmission Format Among Major Trading

question 61

Short Answer

EDI is still a popular data-transmission format among major trading partners, primarily to automate repetitive transactions, though it is slowly being replaced by _____-based Web services.

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Definitions:

Average Accounts Receivable

The average amount of money owed to a company by its customers for goods or services provided on credit over a specified period.

Inventory Turnover Ratio

A measure of how quickly a company sells and replaces its stock of goods within a given period.

Cost of Goods Sold

The total cost of materials and labor directly involved in producing goods or services sold during a period.

Beginning Merchandise Inventory

The value of goods on hand at the start of an accounting period for the purpose of sale in the course of business.