EDI Refers to Computer-Computer Communication Without Any Human Intervention

question 53

True/False

EDI refers to computer-computer communication without any human intervention.

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Definitions:

Profits

Profits represent the financial benefit that is realized when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity.

Penalty

A penalty applied for violating a regulation, agreement, or statute.

Financial Statements

Financial statements are formal records of the financial activities and position of a business, person, or other entity, providing an overview of a financial situation over a specified period.

Independent Public Accountant

A licensed professional who performs audits and provides financial analysis and advice without being affiliated with the audited entity.