What Can New Technology Result In

question 26

Multiple Choice

What can new technology result in?

• A) lower quality of existing products
• B) lower availability of customer service
• C) reduced prices through new production methods
• D) return of products that were once considered obsolete

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Definitions:

Statement Of Income

A statement of income is a financial document that summarizes a company's revenues, expenses, and profits or losses over a specific time period.

Freight In

The cost associated with transporting goods into a business, included as part of the inventory cost.

Purchases Account

An account used in accounting to track all purchases of goods and materials that a business intends to resell.

Cost Of Goods Purchased

The total expense incurred by a company to buy the goods it has purchased for resale, including shipping and handling fees.