Many Companies Use Independent, Internet-Based Service Providers to Handle Their

question 1

Multiple Choice

Many companies use independent, internet-based service providers to handle their payroll processing.These payroll providers specialize in offering solutions and constant access to payroll information.

• A)Online software systems
• B)Batch processing
• C)Electronic timekeeping
• D)Outsourcing of payroll services

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Definitions:

Marginal Cost

The additional financial cost due to the creation of an extra product or service unit.

Average Total Cost

The average total cost is the total cost of production divided by the quantity of output produced.

Marginal Cost Curve

A visual diagram that illustrates the variation in the cost to produce an additional unit of a product as the quantity produced changes.

Average Total Cost Curve

A curve that shows the average cost per unit of output at different levels of production; it typically has a U-shape.