What Modules Comprise a Baseline Accounting System

question 85

Multiple Choice

What modules comprise a baseline accounting system?

• A)Vendors, Employees, Sales, Banking, Financial, and Reports
• B)Inventory, Employees, Sales, Banking, Financial, and Reports
• C)Inventory, Employees, Sales, Banking, Accounting, and Reports
• D)Vendors, Employees, Customers, Banking, Financial, and Reports

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Definitions:

Ending Inventory

The total value of all inventory a company has in stock at the end of a financial period.

Physical Count

The process of manually counting and verifying the quantities of inventory on hand at a specific point in time.

FOB Destination

A shipping term where the seller bears the freight charges and maintains ownership until the goods are delivered to the buyer's location.

FOB Shipping Point

A term indicating that the buyer takes ownership of goods being shipped to them at the point of departure from the seller's shipping dock.