Which of the Following Accounting Functions Has Been Accurately Described

question 37

Multiple Choice

Which of the following accounting functions has been accurately described?

• A) Investments records help produce accurate billing of customers,and thus help to maintain good customer relations.
• B) Payroll records track if your business keeps surplus cash invested in securities.
• C) Accounts payable records help to make timely payments in order to capture prompt pay discounts and to maintain a good credit rating for the business.
• D) Credit card sales function enables that payroll and employment taxes are kept current.

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Definitions:

Credit Report

A detailed record of an individual's or entity's credit history, collected from creditors and used by lenders to gauge creditworthiness.

Property Issue

A legal dispute or concern relating to the ownership or use of land, buildings, or other forms of real estate.

Legal Limits

Regulations or laws that define the boundaries within which individuals or organizations can operate or conduct activities.

Lethal Limits

The boundaries or levels beyond which survival is not possible due to environmental or physical conditions.