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.

Calculate breakeven points in different pricing scenarios.

Recognize the role of competition in pricing strategies.

Understand different pricing strategies, including penetration pricing, skimming pricing, and prestige pricing.

Recognize the importance and limitations of different advertising mediums.

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Definitions:

Professional Corporation

A type of corporation for professionals such as lawyers, doctors, and accountants, subject to specific regulatory provisions.

Business

An organization or enterprising entity engaged in commercial, industrial, or professional activities.

Sole Proprietorship

A business structure where a single individual owns, operates, and is responsible for the business, enjoying all profits and bearing all losses.

Limited Liability Corporation

A business structure that combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation.