Source Documents

question 38

Multiple Choice

Source documents:

• A)Are input devices.
• B)Provide the basic information processed by an accounting system.
• C)Cannot be electronic files.
• D)Store processed information for future use.
• E)Provide systems that interpret,transform and summarize data.

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Definitions:

Quarterly Deposits

Deposits made into an account or investment at regular intervals every three months.

Compounded Semi-Annually

A method of calculating interest in which the accrued interest is added to the principal sum biannually, leading to "interest on interest."

Monthly Payments

Payments made once a month, often as part of a loan or rental agreement.

Borrow

To receive something of value with the promise to return it or its equivalent value at a later date.