The Use of Microchip Applications May Have a Bigger Effect

question 35

Multiple Choice

The use of microchip applications may have a bigger effect than continuous-process automation because

• A)a much wider range of products may be affected.
• B)microchips are cheap to produce.
• C)microchips are small.
• D)continuous-process automation requires electric power.
• E)continuous-process automation does not displace workers.

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Definitions:

Wages and Salaries

Wages and Salaries refer to the regular compensation paid to employees for their labor or services in executing their job responsibilities.

Note Payable

A financial obligation or loan evidenced by a promissory note, which requires the borrower to pay back the amount borrowed plus interest.

Incremental Borrowing Rate

The Incremental Borrowing Rate is the interest rate a company would have to pay if it borrows funds, used in lease accounting to measure lease liabilities.

Equipment

Tangible property owned by a business that is used in its operations to generate income.