Which Term Refers to the Practice of Storing All of the Firm's

question 6

Multiple Choice

Which term refers to the practice of storing all of the firm's information on a centrally managed computer which may be accessed by authorized users firm wide?

• A) Data mining
• B) Data warehousing
• C) Data centralization
• D) Data compression
• E) Data analysis

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Definitions:

Credit Balance

The amount of money in a financial account that indicates a creditor's position; it can also mean the positive balance in a customer's account.

Wages Payable

Wages payable are the amounts owed to employees for work performed that have not yet been paid; it is a liability on the company's balance sheet.

Office Equipment

The tools, devices, or machinery used in an office setting to assist with day-to-day operations, including computers, printers, and furniture.

Credit Entry

An accounting entry that increases a liability or equity account, or decreases an asset or expense account, recorded on the right side of an account.