Advancements in Computer Technology Put Home-Based Businesses at a Disadvantage

question 32

True/False

Advancements in computer technology put home-based businesses at a disadvantage.

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Definitions:

Office Supplies

Consumable items used in an office environment for day-to-day operations, such as paper, pens, and toner.

Accounts Payable

Money owed by a business to its suppliers shown as a liability on the company’s balance sheet.

Cash

Liquid currency and instruments that are readily convertible to known amounts of cash and used to settle debts or buy goods and services.

Fees Earned

Income generated from the provision of services rather than the sale of goods, often recorded as revenue on the income statement.