A Gap Analysis Is Done to

question 82

Multiple Choice

A gap analysis is done to

• A)Identify the company's current business processes
• B)Help employees adjust to the new system
• C)Compare the baseline accounting system to the customized accounting system that meets the company's needs
• D)Conform business processes to regulatory requirements

---

Definitions:

Production Function

An equation or graph that shows the maximum output that can be produced with a given set of inputs.

Labor

The human effort, either physical or mental, that is expended in the production of goods or services.

Factor Prices

Prices paid for the use of factors of production, such as labor, land, and capital, important in understanding cost structures and economic value added.

Production Function

An economic model that describes the relationship between inputs used in production and the resulting output.