Technology

question 123

Multiple Choice

Technology:

• A)Has replaced accounting.
• B)Has not improved the clerical accuracy of accounting.
• C)Reduces the time,effort and cost of recordkeeping.
• D)In accounting has replaced the need for decision makers.
• E)In accounting is only available to large corporations.

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Definitions:

Traditional Measurement

A method of evaluating performance or progress using long-established standards or units.

Return On Investment

A measure used to evaluate the performance of an investment by dividing the net profit by the initial cost of the investment.

Cost Variance

The difference between the estimated cost of a project or operation and the actual cost incurred.

Balanced Scorecard

A strategic planning and management system that organizations use to communicate what they are trying to accomplish, align day-to-day work with strategy, and monitor performance against strategic goals.