"Improvements in Personal Computer Technology and Its Widespread Adoption in the Workplace

question 155

Multiple Choice

"Improvements in personal computer technology and its widespread adoption in the workplace have served to increase productivity." Assuming the statement is true,one would expect this to cause

• A) an increase in supply.
• B) an increase in the quantity supplied.
• C) a decrease in supply.
• D) a decrease in the quantity supplied.
• E) no change in the marketplace.

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Definitions:

Control Account

An account used in the general ledger to summarize the balances of subsidiary accounts and facilitate the verification of financial information accuracy.

Customer Account Balances

The amounts owed to a company by its customers for goods or services delivered on credit.

Adjusting Entries

Entries made in the accounting records to realign the balances of accounts before financial statements are prepared.

Accrued Expense

An expense that has been incurred but not yet paid, recognized on the financial statements.