An Electronic Payroll System Is One in Which Data Is

question 89

True/False

An electronic payroll system is one in which data is processed using computers equipped with payroll software.

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Definitions:

Bank Account

An account held at a financial institution that allows for the deposit and withdrawal of money.

Annual Withdrawals

The amount of money that an individual withdraws from an investment or savings account each year.

Interest

The charge for borrowing money or the return earned on an investment, typically expressed as a percentage.

Years

A measurement of time consisting of 12 months or 365 days, used in financial calculations to determine periods.