When Implementing a New System,the Costs Associated with Transferring Data

question 68

Multiple Choice

When implementing a new system,the costs associated with transferring data from one storage medium to another is an example of

• A)a recurring cost
• B)a data conversion cost
• C)a systems design cost
• D)a programming cost

Understand the concept of scarcity and its significance in economics.

Recognize the different types of resources and their roles in production.

Distinguish between goods and services.

Identify the fundamental problem of economics as the need to make choices due to scarce resources.

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Definitions:

Future Sales

Projected revenue figures based on historical data, market analysis, and other predictive models, indicating the expected amount of products or services a company will sell.

Accounts Receivable Period

The average number of days it takes a company to collect payment after a sale has been made, indicative of cash flow and credit practices.

Operating Cycle

The duration of time from the acquisition of goods for resale or the start of a service to the receipt of payment from customers.

Cash Cycle

The period between the outlay of cash for raw materials and receiving payment from customers, reflecting the efficiency of a company's cash flow management.