_________ Is an Application Program Function That Deals with Storing

question 84

Multiple Choice

_________ is an application program function that deals with storing and retrieving data.

• A)data storage
• B)data access logic
• C)application logic
• D)presentation logic
• E)application access storage

Apply budgeting principles to various scenarios across different industries.

Understand the implications of fixed and variable costs in budgeting.

Calculate and analyze revenue and spending variances.

Prepare and interpret reports highlighting activity variances.

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Definitions:

Time Period Assumption

An accounting principle that assumes a business's complex and ongoing activities can be divided into shorter time periods, such as months, quarters, or years.

Prepaid Expense Account

An asset account that represents payments made in advance for goods or services to be received in the future.

Expenses

Outflows of resources or incurring of liabilities (or a combination of both) resulting from a company's activities intended to generate income.

Assets

Economic resources owned or controlled by a business or an individual that are expected to produce value.