Advances in Technology

question 9

Multiple Choice

Advances in technology

• A) have impacted the manufacturing sector only
• B) are not very good yet at doing low-skilled labor
• C) are replacing mid-level professional and mid-level manual labor
• D) all of the above

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Definitions:

Payments

The act of providing money or its equivalent in exchange for goods, services, or to settle debts.

Balance Due

The amount of money owed on an invoice or bill that remains unpaid and is required to settle the account.

Double-Entry Bookkeeping System

An accounting method where each transaction is recorded in two accounts, showing both the source and the destination of funds to ensure accuracy.

Single-Entry System

A method of bookkeeping where each financial transaction is recorded only once, either as an income or an expense, making it less complex but less accurate than double-entry systems.