Consider the Flowchart Below as You Respond to the Next

question 17

Multiple Choice

Consider the flowchart below as you respond to the next question: Refer to the previously presented set of flowcharting symbols labeled Symbol A through Symbol J. Which of the following statements about the systems flowchart above is most true?

• A)Symbol B may be inserted between "approve credit" and "deliver goods."
• B)Symbol B may be inserted between "start" and "take order."
• C)Both A and B are true.
• D)Neither A nor B is true.

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Definitions:

Fixed Overhead

The total of all overhead costs that do not change in response to activity levels in the short term, such as rent and salaries.

Gross Profit

The difference between sales revenue and the cost of goods sold before deducting operating expenses, interest, and taxes.

Period

A specific duration of time used for financial reporting and analysis, typically a fiscal quarter or year.

Cost of Goods Sold

Direct expenditures linked to the creation of goods sold by a business.