Random Access Memory Is a Temporary Holding Space for Data

question 73

True/False

Random access memory is a temporary holding space for data and software.

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Definitions:

Another Company's Check

A form of payment issued by one company to another for goods or services rendered.

Electronic Funds Transfer

A system that allows the transfer of money between accounts via electronic signals, eliminating the need for physical checks.

Deposits In Transit

Funds that have been received and recorded by a business, but not yet processed or recorded by the bank.

Timing Difference

Differences between when transactions affect the book balances and bank balances, often seen in accounting reconciliations.