A Computerized System Uses Software to Process Transactions

question 19

True/False

A computerized system uses software to process transactions.Thus employees are no longer required to manually journalize and post transactions to the accounts.

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Definitions:

Safety Inventory

Additional stock that is kept in reserve to protect against stockouts caused by variability in demand or supply.

Time Sensitive

This term describes situations, operations, or processes that are highly dependent on the duration or timing in which they occur, necessitating prompt or precise scheduling.

Inventory Upstream

Refers to the inventory held by suppliers and manufacturers before it is distributed down the supply chain to the end consumer.

Safety Inventory

Extra inventory held to protect against stockouts caused by variability in demand or supply.