The Collection and Analysis of Massive Amounts of Data, with the Goal

question 39

Multiple Choice

The collection and analysis of massive amounts of data, with the goal of measuring aspects of people's behavior is referred to as

• A)marginal utility.
• B)big data.
• C)mega processing.
• D)the Internet of Things.

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Definitions:

Inventory Valuation

The cost associated with an entity's inventory at the end of a reporting period, calculated using methods like FIFO, LIFO, or Weighted Average.

Inventory Control

The supervision of non-capitalized assets (inventory) and stock items, particularly managing the quantity of stock on hand to prevent stockouts or excessive oversupply.

Petty Cash Voucher

A document used to record and authorize the payment of small, immediate expenses from a petty cash fund.

High-Cost Items

Products or services that have a significantly higher price due to their quality, complexity, or brand reputation.