The Rapid Growth of New Information Technologies Has Meant Big

question 28

True/False

The rapid growth of new information technologies has meant big changes in the way specific tasks are done,but it has not changed basic organizational processes very much.

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Definitions:

Bank Memos

Bank memos are notes or records created by a bank to document adjustments made to a bank account, explaining any changes or transactions.

Bank Reconciliation

A process of matching and comparing figures from the accounting records against those shown on a bank statement to ensure they are in agreement and to identify any discrepancies.

Bank Statement

A document provided by a bank, detailing the transactions in a customer's account over a specified period.

Cash Balance

The amount of cash a company has available at any point in time, as reflected in its financial statements.