When the First Personal Computers Were Introduced,Bill Started Using a Spreadsheet

question 42

Multiple Choice

When the first personal computers were introduced,Bill started using a spreadsheet program to balance his checkbook.Bill discovered that this new method was much slower for him and that if he typed in the wrong data,it led to more mistakes.This illustrates how a(n) _____ technology may initially have lower performance than the _____ technology.

• A) incumbent, discontinuous
• B) logical extension, discontinuous
• C) discontinuous, incumbent
• D) discontinuous, modular

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Definitions:

Internal Control Problems

Issues or weaknesses in a company's processes that threaten its ability to ensure accurate financial reporting, compliance with laws, and effective and efficient operations.

Internal Control Principle

A fundamental concept in accounting and auditing that refers to the processes, procedures, and measures a company puts in place to safeguard assets, enhance the reliability of financial reports, and ensure compliance with laws and regulations.

Bank Reconciliation

Bank Reconciliation is the process of matching and comparing an organization’s financial records against the bank statements to ensure accuracy and consistency in the accounts.

NSF Check

A cheque that has been returned by a bank because the account it was drawn on did not have sufficient funds.