The Use of Information Systems Because of Necessity Describes the Business

question 65

Multiple Choice

The use of information systems because of necessity describes the business objective of

• A)operational excellence.
• B)improved business practices.
• C)competitive advantage.
• D)improved flexibility.
• E)survival.

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Definitions:

Market Price

The present cost for purchasing or selling an asset or service in a specific market.

Consequential Damages

Special damages that compensate for a loss that is not direct or immediate (for example, lost profits). The special damages must have been reasonably foreseeable at the time the breach or injury occurred in order for the plaintiff to collect them.

Liability

A legal responsibility or obligation, particularly in the context of debts or torts.

Liquidated Damages Provision

A contractual clause that specifies a predetermined amount of money that must be paid as damages in the event of a contract breach by one of the parties.