Which of the Following Statements Is an Example of a Technological

question 24

Multiple Choice

Which of the following statements is an example of a technological trend?

• A) The Federal Reserve announces that it will decrease the interest rate charged to banks.
• B) Congress passes legislation that increases the tax rates on corporations.
• C) A new computer chip is developed that will allow for miniaturization of many electronic devices.
• D) The European Union announces an increase in tariffs on all agricultural goods.

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Definitions:

Gross Profit

The difference between revenue and the cost of goods sold (COGS), indicating the profit a company makes after deducting the costs associated with making and selling its products or services.

Inventory Purchases

The acquisition of goods and materials a company intends to sell in its ordinary course of business.

Beginning Inventory

The value of goods available for sale at the start of an accounting period.

Beginning Inventory

The value of all inventory held by a company at the start of an accounting period.