The System Within a Business for Converting Raw Data from Source

question 116

Multiple Choice

The system within a business for converting raw data from source documents (like invoices, sales receipts, bills, and checks) into information that will help a manager make business decisions is known as a/an ______.

• A) computer system
• B) accounting system
• C) record system
• D) data system

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Definitions:

Antitrust Laws

Legislation designed to promote competition and restrict monopolies by regulating anti-competitive practices.

Economic Efficiency

The optimal allocation of resources to maximize the production of goods and services.

Creative Destruction

A concept in economics which signifies the process by which new innovations lead to the demise of older technologies, leading to economic progress.

Federal Trade Commission

A federal agency charged with protecting consumers and ensuring a strong competitive market by enforcing antitrust and consumer protection laws.