Which of the Following Statements Is True Related to Manual

question 118

Multiple Choice

Which of the following statements is true related to manual systems?

• A)Few small organizations use computerized accounting systems.
• B)Computerized systems often rely on some manual record keeping.
• C)Most medium sized organizations rely on manual accounting systems.
• D)When using a computerized system, it is not necessary to understand the manual system.

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Definitions:

Total Utility

The total satisfaction or benefit received by consuming a particular quantity of a good or service.

Demand Curve

A visual depiction showing how the demand for a product or service varies with changes in its price over a specific time frame.

Consumer Surplus

The gap between the total sum consumers are ready and able to spend on a good or service versus the total sum they actually spend.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service relative to its market price, representing the economic benefit to consumers.