Which of the Following Statements Is True About the Use

question 48

Multiple Choice

Which of the following statements is true about the use of IT in nonprofit organizations?

• A)Nonprofit organizations have no shareholders and do not require a dedicated IT strategy.
• B)Nonprofit organizations do not require significant IT support unless they are transformational in nature.
• C)Nonprofit organizations need IT support and strategy to achieve their objectives.
• D)Nonprofit organizations need not invest in IT if their organization objectives are not directly related to IT.

Determine the effects of inventory management decisions on business liquidity and profitability.

Identify the differences between physical inventory and estimated inventory methods.

Recognize the implications of consignment and ownership issues on inventory counts.

Assess the efficiency and effectiveness of inventory management through specific metrics.

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Definitions:

Outstanding Balance

The total amount of money owed on a loan, credit card, or mortgage that is yet to be paid.

Invoice

A document issued by a seller to a buyer, specifying the items or services sold, prices, terms of sale, and payment instructions.

Payment

The act of providing money in exchange for goods, services, or to satisfy a debt.

Credited

Recognized or accounted for in financial transactions; often involves adding a sum to an account balance.