Technology Such as Cash Registers,check Protectors,time Clocks,and Personal Identification Scanners

question 50

True/False

Technology such as cash registers,check protectors,time clocks,and personal identification scanners can increase the strength of internal controls.

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Definitions:

Accounts Payable

Short-term liabilities of a company for goods and services received but not yet paid for.

Trade Credit Discounts

Reductions in the price of goods or services offered by suppliers to their customers as an incentive for early payment.

Performing Poorly

A term used to describe assets, investments, or businesses that are not achieving expected levels of profit or performance.

Cash Budgets

Financial plans that estimate future cash receipts and expenditures over a specific period.