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Thomas is responsible for creating backup copies of information in a system. He also works along with IT personnel to ensure that the backups are valid and that effective recovery procedures exist. Thomas is involved in establishing ________.
Cash Payments
Transactions that involve the outlay of cash by a business for various purposes, including expenses, acquisitions, or debt repayments.
Cost of Goods Sold
The direct costs attributed to the production of the goods sold by a company, including materials and labor.
Accounts Payable
A liability to a creditor, carried on an open account, usually for purchases of goods and services.
Indirect Method
A way of reporting cash flows from operating activities in the cash flow statement by adjusting net income for changes in non-cash accounts.
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