If You Want to Support Business Operations You Will Focus

question 163

True/False

If you want to support business operations you will focus on building a strong information MIS infrastructure, which identifies where and how important information, such as customer records, is maintained and secured.

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Definitions:

Cost of Goods Sold

The immediate expenses related to the manufacture of products sold by a business, encompassing both materials and workforce.

Perpetual System

An inventory management method that records the sale or purchase of inventory immediately through the use of computerized point-of-sale systems and enterprise asset management software.

FIFO Perpetual

An inventory management system where the first items purchased (First-In) are the first to be sold or used (First-Out), continuously updated.

Cost of Goods Sold

The total cost directly tied to the production of the goods sold by a company, including materials and labor.