Soundwave Communication Services Has Processed and Archived a Large Amount

question 27

Multiple Choice

Soundwave Communication Services has processed and archived a large amount of data on its servers. However, due to a technical fault in its servers,it was unable to access the information. It had to spend a large sum of money to regain access to the information. In this scenario, the cost borne by Soundwave Communication Services is an example of _____.

• A) acquisition cost
• B) processing cost
• C) storage cost
• D) retrieval cost

---

Definitions:

Income Statement

A financial report that shows a company's revenues, expenses, and profits over a specific accounting period.

E-Commerce

The use of the Internet for performing business transactions.

Subsidiary Ledgers

Detailed records that support summary-level data contained in the general ledger, such as accounts receivable and accounts payable ledgers.

General Ledger

A complete record of all financial transactions over the life of a company.