People also ask
How is financial data collected and recorded?
It uses books and physical registers to record financial data. It uses a computer with financial software to collect financial data electronically. A customized database is used to record data content. One performs all the calculations by hand. The computer system carries out the calculations after one feeds it with the data.
What is a file in computer?
(n.) A collection of data or information that has a name, called the filename. Almost all information stored in a computer must be in a file. There are many different types of files: data files, text files , program files, directory files, and so on.
What type of information is stored in a file?
Almost all information stored in a computer must be in a file. There are many different types of files: data files, text files , program files, directory files, and so on. Different types of files store different types of information. For example, program files store programs, whereas text files store text.
Is it not important to keep financial records?
Physical budgeting d. Software budgeting a. Mental budgeting It is not important to keep financial records since they can all be found online. What is true about computer files of financial records? a. They should be backed up regularly.