Which of the following best defines the Accounting Data Standards: Base Standard?
A) focuses on sales orders, accounts receivable, shipments, invoices, cash receipts and adjustments to accounts.
B) identifies data needed for purchase orders, goods received, invoices, payments, and adjustments to accounts.
C) adds the chart of accounts, source listings, trial balance, and GL (journal entry) detail.
D) defines the format for files and fields as well as some master data for users and business units.

Question

Quizplus · Accepted Answer

The Accounting Data Standards: Base Standard defines the format for files and fields, as well as master data for users and business units. Option A describes the Sales Data Standard, Option B describes the Purchase Order Data Standard, and Option C describes the General Ledger Data Standard.

Which of the Following Best Defines the Accounting Data Standards