The Ability to Effectively and Efficiently Access and Use Information

question 66

Multiple Choice

The ability to effectively and efficiently access and use information is

• A)vitally important at the point where a domestic firm enters the global market.
• B)an important source of competitive advantage in virtually all industries.
• C)the minimum required for survival in virtually any industry.
• D)critically important mainly in high technology industries.

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Definitions:

Journal

A book or electronic record in which transactions are recorded in chronological order before they are posted to ledger accounts.

Page Number

A number assigned to a specific page in a document or book to facilitate organization and reference.

Journalizing

Journalizing is the process of recording transactions in the company's journal, marking the first step in the accounting cycle by documenting all financial transactions.

Ledger

The principal book or computer file for recording and totaling economic transactions measured in terms of a monetary unit of account by account type.