Careful Consideration of the Use of Computers in Accounting Indicates

question 275

Multiple Choice

Careful consideration of the use of computers in accounting indicates that computers

• A) will soon eliminate all of the accounting functions.
• B) are tools to help the accountant perform his or her job.
• C) are of little use to small-business owners that need accounting services.
• D) have a very limited use in accounting due to inadequate privacy controls.

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Definitions:

Gross Profit

The financial metric that represents the difference between sales revenue and the cost of goods sold, before deducting overheads, payroll, taxation, and interest payments.

Profit Center

A branch or division of a company that is treated as a separate entity for the purpose of calculating its profitability.

Profit Center

A division or segment of a company that is directly responsible for generating its own revenue and profit through its activities.

Cost Center

A department or segment of a business that does not directly generate revenue but incurs costs, focusing instead on controlling expenses.