Case-Based Critical Thinking Questions Case 12-1 Tina Is Considering Purchasing

question 53

Multiple Choice

Case-Based Critical Thinking Questions Case 12-1 Tina is considering purchasing database software. She already has Microsoft Excel, which is spreadsheet software. Tina has a number of index cards filled with customer information from her home business. She wants to be able to input this data into her computer and search through it when necessary. Based on these criteria, Tina should ____.

• A) purchase database software because you can't search for data that meets specific criteria using the spreadsheet software that she already has
• B) purchase database software because it will allow her to build records based on her index cards and then filter specific data
• C) stick with the software that she already owns; Microsoft Excel allows you to search for data that meets specific criteria, and there is no need for Tina to spend more money on more complicated software
• D) find a new kind of software because both database and spreadsheet software are insufficient for her needs

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Definitions:

Insurance Policy

A legal contract between an insurer and the insured, where the insurer agrees to compensate the insured for specific losses in exchange for a premium.

Adjusting Entry

An accounting record entry made at the close of an accounting period for the purpose of attributing costs and revenues to their appropriate periods.

Income Statement

A financial statement that displays a company's financial performance by detailing revenues, expenses, and net income over a certain period.

Balance Sheet

A Balance Sheet is a financial statement that summarizes a company's assets, liabilities, and shareholders' equity at a specific point in time, offering a snapshot of its financial condition.