Cheryl Liao is an accountant at Folding Squid Technologies. While making an adjusting entry to the general ledger, she received the following error message, "Your journal entry must be a numeric value. Please reenter." This message was the result of a

A) validity check.
B) field check.
C) zero-balance check.
D) completeness test.

Answer: B) field check.

Business

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A contract where the buyer pays a minimal amount for each unit purchased from the supplier but shares a fraction of the revenue for each unit sold is a

A) buyback or returns contract. B) revenue-sharing contract. C) quantity flexibility contract. D) quantity discount contract.

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Information technology (IT) promotes centralized decision making

Indicate whether the statement is true or false

Business