What Is a Global Positioning System (GPS)

question 108

Multiple Choice

What is a global positioning system (GPS) ?

• A) Occurs when a company places active or semi-passive RFID tags on expensive products or assets to gather data on the items' location with little or no manual intervention
• B) Uses plastic or conductive polymers instead of silicon-based microchips,allowing them to be washed or exposed to water without damaging the chip
• C) A device that measures the acceleration (the rate of change of velocity)of an item and is used to track truck speeds or taxi cab speeds
• D) A satellite-based navigation system providing extremely accurate position,time,and speed information

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Definitions:

Debit

An accounting entry that increases an asset or expense account, or decreases a liability or equity account, recorded on the left-hand side.

Utilities Expense

Utilities Expense refers to the cost incurred from the consumption of utilities services like electricity, water, and gas in the course of business operations.

Post-Closing Trial Balance

A list of all accounts and their balances after closing entries are made, verifying the equality of debits and credits.

Balance Sheet

A financial statement that displays the assets, liabilities, and shareholders' equity of a company at a specific point in time, showing the balance of income and expenditure over the preceding period.