The Computer Revolution of the 1990s Included the Development of New

question 103

Multiple Choice

The computer revolution of the 1990s included the development of new and life-altering technology that included all of the following EXCEPT:

• A) personal computers.
• B) digital cameras.
• C) cell phones.
• D) the Internet.
• E) iPods.

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Definitions:

Expenses

Costs incurred in the process of earning revenue, which are subtracted from revenues to calculate net income.

Financial Statements

Formal records of the financial activities and position of a business, person, or other entity.

Balance Sheet

A financial statement that provides a snapshot of a company’s financial position, showing assets, liabilities, and shareholders' equity at a specific point in time.

Income Statement

A financial statement that shows a company's revenues and expenses over a specific period, indicating the net profit or loss.