Diego Owns and Operates a Small Business with Only Four

question 90

Multiple Choice

Diego owns and operates a small business with only four full-time employees and less than $700,000 in annual sales. He currently uses a manual accounting system and relies on a part-time bookkeeper to keep his records in order. In evaluating the possible adoption of a computerized accounting system, Diego will probably discover that

• A) the expense of setting up a computerized accounting system would not be affordable at this time.
• B) he would be better off hiring a full-time accountant.
• C) he could benefit from adopting such a system, but should also consult with an accountant for advice about what's best.
• D) a computerized system would be affordable, but that he would have little need for it unless his company became significantly larger.

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Definitions:

Schemas

Cognitive structures or frameworks that help organize and interpret information, based on past experiences and knowledge.

Hierarchy Of Needs

Maslow’s pyramid of human needs, beginning at the base with physiological needs that must first be satisfied before people can fulfill their higher-level safety needs and then psychological needs.

Physiological Needs

Basic physical requirements for human survival and health, such as food, water, shelter, and sleep, considered the foundation of Maslow's hierarchy of needs.

Self-Actualized

Achieving or meeting one's own abilities and potential, viewed as an inherent desire or requirement in all people.