Contemporary Payroll Practices Reflect

question 22

Multiple Choice

Contemporary payroll practices reflect:

• A) The increased use of manual payroll accounting systems.
• B) The strategic use of payroll data as a company planning tool.
• C) The replacement of accounting personnel with computerized systems.
• D) The decrease in labor costs that reflects the effect of the economic recession.

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Definitions:

Monopoly

A market structure dominated by a single seller, facing no competition in offering a unique product or service, allowing them to control prices and market conditions.

Network Externalities

The effect that an additional user of a good or service has on the value of that product to others, often increasing the product's value as the user base grows.

Game Console

A dedicated electronic device designed to play video games through a connection to a television or other display screen.

Highly Concentrated

Refers to a market structure where a small number of firms hold a large portion of the market share.