Advantages of an Automated System Includes All of the Following

question 40

Multiple Choice

Advantages of an automated system includes all of the following, except:

• A)Reduce time, costs, errors, and duplicate payments
• B)Increased cost of the system
• C)Provides management more timely information to forecast future cash outflows for payment of invoices
• D)Summarized detailed transactions into summary amounts that are posted to the general ledger accounts

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Definitions:

Potential Customer

An individual or entity that is likely to be interested in a company's product or service but has not yet made a purchase.

Business Models

Frameworks that describe how a company creates, delivers, and captures value, in both economic, social, and other contexts.

Experimentation

The process of conducting tests and trials to explore hypotheses or new ideas, typically to gain knowledge or validate theories.

Cost Structure

An outline of the types and relative proportions of fixed and variable costs that a business incurs in its operations.