What Is the Best Description of Technology

question 25

Multiple Choice

What is the best description of technology?

• A)Technology is the application of scientific knowledge to the interests of humans.
• B)Technology is the development of new tools.
• C)Technology is the use of power to make human life easier.
• D)Technology is the advancement of the functionality of computers.

Understand the components and calculations of return on investment (ROI) for operating assets.

Identify the role and structure of a balanced scorecard in performance measurement.

Differentiate between value-added and non-value-added activities within a business process.

Analyze the impact of financial and nonfinancial measures on future financial performance.

---

Definitions:

Order Fulfillment Department

The division within a company responsible for processing orders and ensuring products are delivered to customers efficiently.

Capacity Analysis

The evaluation of a system's potential to produce goods or complete tasks within a certain period, considering limitations in production.

Time-Driven Activity-Based Costing

A costing method that assigns costs to products based on the actual time resources are used in the production, improving accuracy in cost allocation.

Customer Service Department

A division of a company responsible for handling interactions and inquiries from customers.