What are information silos?
What will be an ideal response?
Information silos are the conditions that exist when data are isolated in separated information systems. Silos come into existence as entities at one organizational level create information systems that meet only their particular needs. The major problems caused by information silos at department level include data duplication and data inconsistency, disjointed processes, limited information and lack of integrated information, isolated decisions leading to organizational inefficiencies, and increased expenses for a company. When an organization has inconsistent duplicated data, it is said to have a data integrity problem.
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Under the direct write-off method, which of the following is included in the entry to write off an uncollectible account?
A) a credit to the Allowance for Bad Debts B) a credit to the customer's Account Receivable C) a debit to Allowance for Uncollectible Accounts D) No entry is made to write off uncollectible accounts.
Column totals are called footings
Indicate whether the statement is true or false