As Computer Systems Have Been Developed to Perform the Recording

question 46

Multiple Choice

As computer systems have been developed to perform the recording and classification tasks associated with business activities,the nature of accounting and the work of the accountant have also been pushed in a new direction.Increasingly,the role of the accountant is seen to be to:

• A)Use computer programs rather than manual journals.
• B)Ensure that businesses invest in new software.
• C)Add value and provide and interpret information for an organisation.
• D)Outsource accounting work to bookkeepers.

Understand the concept of pollution permits and their role in controlling pollution levels.

Recognize the difference between equilibrium quantity and socially optimal quantity in the presence of externalities.

Identify command-and-control policies and market-based policies for managing pollution.

Analyze the advantages and disadvantages of corrective taxes.

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Definitions:

Financial Distress

A situation where a company is struggling to meet its financial obligations, which could lead to bankruptcy if not addressed.

Stockholders

Individuals or entities that own shares of a corporation, thus holding part ownership and potential financial gains from the corporation's performance.

Book Value

Represents the value of a company as recorded on its books, calculated by subtracting total liabilities from total assets.

Market Value

The current value of an asset or company based on the price that it can be sold for on the open market.