The Use of an Application to Access and Interact with Software

question 73

Multiple Choice

The use of an application to access and interact with software from any computer or device that is connected to the Internet is sometimes called ____ computing.

• A) cloud
• B) remote
• C) locational
• D) connected

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Definitions:

Average Unit Cost

A costing method that calculates the cost per unit by dividing the total cost by the total number of units available for sale.

Perpetual Inventory System

A method of accounting for inventory that records the sale or purchase of inventory immediately through the use of computer systems.

Cost of Goods Sold

Costs directly incurred from the production of goods a company offers for sale, including labor and material costs.

Average Cost Formulas

A method in inventory valuation that calculates the cost of goods sold based on the average cost of all similar items in inventory.