Auditors Often Make Use of Computer Programs That Perform Routine

question 68

Multiple Choice

Auditors often make use of computer programs that perform routine processing functions such as sorting and merging.These programs are made available by IT companies and others and are specifically referred to as:

• A)user programs.
• B)utility programs.
• C)supervisory programs.
• D)compiler programs.

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Definitions:

Marginal Revenue

The additional income generated from selling one more unit of a good or service.

Marginal Cost

The cost of producing one additional unit of a product or service.

Total Product

The overall quantity of goods or services produced by a firm or an economy over a specific period, often used to measure productivity.

Law of Diminishing Returns

An economic principle stating that if one factor of production is increased while other factors are held constant, the incremental output per unit of the increased factor will eventually decrease.