The Increasing Use of Information Technology (IT) Can Help Organisations

question 21

Multiple Choice

The increasing use of information technology (IT) can help organisations better manage relationships with their environments in which of the following ways?

• A) IT helps build and manage relationships with strategic partners.
• B) IT helps organisations take care of their customers.
• C) IT helps organisations work well with their resource suppliers.
• D) None of the options listed is a way that IT can help organisations manage relationships with their environments.
• E) All of the options listed are ways that IT can help organisations manage relationships with their environments.

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Definitions:

Inventory Costing Methods

Various approaches to valuing inventory, including First-In, First-Out (FIFO); Last-In, First-Out (LIFO); and Weighted Average Cost.

Cost-Benefit Constraint

The principle that actions or decisions should only be taken or made if the benefits outweigh the costs.

Conservation Principle

A principle in physics stating that certain properties such as mass, energy, or charge in an isolated system remain constant over time.

Perpetual Inventory System

An inventory accounting system where updates are made continuously to the inventory accounts and cost of goods sold as transactions occur.