____ Refers to the Collection of Large Amounts of Near-Real-Time

question 54

Multiple Choice

____ refers to the collection of large amounts of near-real-time data collected through a variety of sources such as sensors and smart phones, among others.

• A) cloud computing
• B) big data
• C) data warehousing
• D) decision support systems

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Definitions:

Revenue Recognition Principle

An accounting principle that dictates that revenue should be recognized in the accounting period in which it is earned and realizable.

Recognized

Recognized, in accounting terms, refers to the official acknowledgment of a transaction or event in the financial statements through recording it.

Customers

Individuals or entities that purchase goods or services from a business, contributing to the company's revenue.

Revenue Recognition Principle

An accounting standard requiring revenue to be recognized in the accounting period when it is earned and measurable.