When Personal Computers Were New, People Spent Considerable Time and Energy

question 101

Essay

When personal computers were new, people spent considerable time and energy learning about and investigating choices and options. Now, many consumers replace old computers with little research or investigation. In terms of types of products (specialty, shopping, convenience, and unsought goods), how have personal computers changed?

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Definitions:

Disclosed Basis of Accounting

The accounting principles and policies a company openly reports in its financial statements.

GAAP

Generally Accepted Accounting Principles, a common set of accounting principles, standards, and procedures that companies must follow when they compile their financial statements in the U.S.

Fair Value

The price at which an asset would be exchanged between knowledgeable, willing parties in an arm's length transaction.

Full IFRS

The complete set of International Financial Reporting Standards that are globally accepted guidelines for preparing financial statements.