Final answer:
The statement is true; payment event data includes comprehensive details of each payment received, crucial for financial management and reporting.
Step-by-step explanation:
The statement is true: The payment event data does contain the details of each payment received. This data typically includes information such as the amount, date, payment method, payer details, and any associated invoices or account information. Businesses analyze this data to manage their finances, forecast future revenue, and ensure proper accounting. Understanding payment event data is crucial in financial reporting and auditing, as it provides a snapshot of cash flow and verifies the income on the records.
The payment event data contains the details of each payment received. This data typically includes information such as the payment method used, the amount paid, the date and time of the payment, and sometimes additional details like the customer's name and billing address.For example, in an online shopping scenario, the payment event data would include details of each transaction made by customers, including the items purchased, the total amount paid, and the payment method used.