Use the Chart Below to Answer the Following Questions Regarding

question 100

Multiple Choice

Use the chart below to answer the following questions regarding flow chart symbols.

-Which symbol would be used in a flowchart to represent a general ledger master file kept on magnetic disk?

• A)#2
• B)#11
• C)#7
• D)#8

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Definitions:

Market Price

The existing rate at which merchandise or services are exchanged in a commercial environment.

Losses

Situations where expenses exceed revenues, resulting in negative income.

Economic Profit

The variance between cumulative revenue and aggregate outlays, covering both manifest and concealed costs.

Competitive Market

A competitive market is one in which a large number of buyers and sellers interact, leading to goods and services being offered at market-determined prices with minimal barriers to entry or exit.