______________Consist of People, Records, Methods, and Equipment That Collect and Process

question 177

Short Answer

______________consist of people, records, methods, and equipment that collect and process data from transactions and events, organize them in useful reports and communicate results to decision makers.

---

Definitions:

Dividend Income

Income received from owning shares in a company, which is often taxable at different rates than regular income.

Distribution

The action of sharing something out among a number of recipients, often used in the context of financial assets or dividends.

Transferors Own 80%

A situation in a business transaction where the original owners or transferors retain an 80% ownership interest in the property or entity after the transaction is completed.

Tax-Free

Earnings, income, or transactions that are not subject to tax by the government.