SMEs Are Exploring the Use of Hosted Software to Acquire

question 30

True/False

SMEs are exploring the use of hosted software to acquire, use, and benefit from new software even though it means extra complexity and high start-up costs.

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Definitions:

Average Cost Methods

The average cost method is an inventory costing method where all costs of inventory are averaged out and applied to the cost of goods sold and ending inventory.

Security Measures

Steps or protocols implemented to protect assets, information, and people from theft, damage, and unauthorized access.

Safeguard Inventory

Strategies and measures implemented by a business to protect its inventory from theft, damage, and other losses to ensure accurate stock levels and financial records.

Inventory Control

The management of inventory to ensure the right quantity of supplies for operation without excess, thus minimizing costs.