Efforts to Improve Efficiency by Using New Technology May Fail

question 6

True/False

Efforts to improve efficiency by using new technology may fail if the cost of purchasing and operating the new technology exceeds any savings from a smaller workforce.

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Definitions:

Domestic Corporations

Domestic corporations are businesses that are registered, incorporated, or formed within a specific country and operate under its laws.

Ownership

The state or fact of owning something, which includes the rights to use, sell, or receive income from it.

Deferred Income Tax Asset

A financial item on the balance sheet that results from over-payment or advance payment of taxes, which is expected to be recovered in future periods.

Income Tax Returns

Official documents filed with governmental tax authorities declaring income, expenses, and other tax-relevant information to calculate tax liability.