A Batch of Business Events Is Accurately Entered into a Business

question 70

True/False

A batch of business events is accurately entered into a business event data, but the computer operator fails to use the data to update master data.This type of processing error would be classified as an operational error.

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Definitions:

Discount

A reduction in the price of a good or service, typically to encourage purchase.

Cash Interest

The actual amount of interest paid in cash by a borrower during a given period for the use of borrowed funds.

Interest Expense

The cost incurred by an entity for borrowed funds, reflecting the interest payments due on any type of debt for a specific period.

Issuing Company

A corporation or entity that releases or sells financial instruments like stocks or bonds to raise capital.