Which of the following is a function of accounting applications?
A)validating payment method
B)managing retained earnings
C)creating and maintaining bill of materials
D)verifying customer credit

Question

Quizplus · Accepted Answer

Managing retained earnings is a key function of accounting applications, as it involves tracking the profits that a company has accumulated over time and deciding how to allocate them - for example, reinvesting them in the business or distributing them to shareholders. Validating payment methods and verifying customer credit may be part of accounting software, but they are more specific to payment processing and risk management, respectively. Creating and maintaining bill of materials is typically associated with inventory management or production planning systems.

Which of the Following Is a Function of Accounting Applications