A Business Purchased Office Supplies on Account

question 64

True/False

A business purchased office supplies on account.As a result of this transaction,expenses and liabilities will increase.

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Definitions:

RAM

Random Access Memory, a form of computer memory used to store data temporarily that is being currently used or processed.

Volatile

In computing, refers to memory that requires power to maintain the stored information; it loses its contents when the power is turned off.

Plugin

Software that adds specific features or functionalities to an existing computer program, often to customize or enhance performance.

Text Editor

A software application used for entering, editing, and storing text.