John Is a Successful Attorney Who Refuses to Adopt an Electronic

question 76

True/False

John is a successful attorney who refuses to adopt an electronic file system and instead keeps paper records. He fears that if something is not written down it is not permanent. In this scenario, John is considered a laggard.

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Definitions:

Income Statements

A financial statement that shows a company’s revenues, expenses, and profits or losses over a specific period.

Wholesalers

Businesses that buy goods in bulk from manufacturers or distributors and then sell them in smaller quantities to retailers or other businesses.

Retailers

Businesses that sell goods or services directly to consumers.

FOB Shipping Point

A term used in shipping indicating that the buyer assumes ownership and the risk of loss of goods once the seller ships the product.