An Accounting System Captures Relevant Data About Transactions and Then

question 269

True/False

An accounting system captures relevant data about transactions and then classifies, records, and reports data.

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Definitions:

Objectively Demonstrated

Information or evidence presented in a manner that is observable and verifiable by others, not influenced by personal feelings or opinions.

Unclear

Not easy to see, understand, or distinguish; not obvious or definite.

Valid Acceptance

An unqualified expression of assent to the terms of an offer, forming a contract.

Present Intent

A legal term indicating a person's current intention to perform an act or designate a legal status to an item of property.