Application Software Is Used in Computer Appliances and Special-Purpose Applications

question 125

True/False

Application software is used in computer appliances and special-purpose applications, such as an automobile, ATM, or media player and is used for a single purpose.

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Definitions:

FOB Shipping Point

A term indicating that the buyer takes ownership and pays for transportation costs once the goods leave the seller’s premises.

Inventory Cost

The total cost associated with purchasing and producing the inventory a business holds, including the costs of materials, labor, and overhead.

Perpetual Inventory System

An accounting method where inventory quantities and cost of goods sold are continuously updated with each sale or purchase transaction.

Merchandise On Hand

The inventory of goods that a company currently has available for sale.