Many Companies Now Use a Technology Called _____ to Process

question 68

Multiple Choice

Many companies now use a technology called _____ to process transactions and transmit purchasing documents directly from one IS to another.

• A)electronic data purchasing
• B)electronic data brokerage
• C)electronic data interchange
• D)electronic billing

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Definitions:

Invoice Terms

The conditions stipulated on an invoice, including payment due date, discount opportunities for early payment, and penalties for late payment.

n/30

Payment terms indicating the net amount is due in full within 30 days.

Estimated Returns Inventory

A current asset that is reported on the balance sheet after inventory.

Adjusting

The process of making entries to correct accounts or to account for accruals and deferrals in the accounting cycle.