Today's Computerized Accounting Programs Are

question 204

Multiple Choice

Today's computerized accounting programs are:

• A)Very helpful for small business owners who lack strong accounting support within their companies.
• B)Too expensive and complicated for most small businesses.
• C)A poor investment for small start-up companies due to the fact that these programs are seldom needed unless the firm is considered a mid-sized to large company.
• D)So sophisticated that they can make most financial decisions without the aid of an accountant.

---

Definitions:

Purely Competitive

A market structure characterized by a large number of small firms, homogeneous products, and free entry and exit, leading to price taking behavior.

Marginal Costs

The upsurge in full cost that comes from the generation of one additional unit of a good or service.

Short Run

A period in economic analysis where at least one input is fixed, focusing on immediate effects and adjustments in production or operations.

Marginal Revenue

The increased revenue a company achieves from the sale of an additional good or service unit.