When Using a Computerized Accounting Information System,transactions Do Not Need

question 36

True/False

When using a computerized accounting information system,transactions do not need to be recorded in a debit and credit format.

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Definitions:

Specified Intervals

Pre-determined or agreed periods at which certain events or measurements take place.

Cash Flows

The total amount of money being transferred into and out of a business, especially as affecting liquidity.

Derivative Security

A financial instrument whose value is based on the performance of an underlying asset, such as stocks, bonds, commodities, or currencies.

Financial Asset

Any asset that is cash, the right to receive cash or another financial asset, or an equity instrument of another entity, such as stocks, bonds, or derivatives.