Query Tools and Exploratory Techniques Are Used to Extract Information

question 48

Multiple Choice

Query tools and exploratory techniques are used to extract information from a centralized data storage computer/server through the process of:

• A) Data marting
• B) Data mining
• C) Data warehousing
• D) Data centralization
• E) Data compression

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Definitions:

Inventory Costing Method

A system used to evaluate the value of inventory, including methods such as First-In, First-Out (FIFO), Last-In, First-Out (LIFO), and average cost.

Comparability

Ability to compare the accounting information of different companies because they use the same accounting principles.

Accuracy

The degree to which the result of a measurement, calculation, or specification conforms to the correct value or a standard.

FIFO Costing Assumption

An inventory valuation method that assumes the items purchased or produced first are sold first, thereby calculating the costs based on earliest prices.