Given the Flexibility and Usefulness of Computerized Accounting Databases, a Company

question 45

True/False

Given the flexibility and usefulness of computerized accounting databases, a company will always find it cost effective to use them in processing, storing, and retrieving accounting data.

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Definitions:

Marginal Revenue Product

The additional revenue generated by employing one more unit of a factor of production, keeping all other factors constant.

Wage Rate

The amount of money workers are paid per unit of time, usually specified in terms of an hour, representing compensation for labor services.

Employment

The condition of having paid work or being engaged in a productive activity.

Marginal Revenue Product

The additional income produced by one more unit of input, such as labor or capital, in the production process.