Fairfax Corporation Uses Two Systems for Revenue Cycle Transaction Processing

question 32

Multiple Choice

Fairfax Corporation uses two systems for revenue cycle transaction processing.One system keeps track of customer sales.The other system keeps track of accounts receivable.Last year,Fairfax Corporation decided to merge the two systems into one so that both functions could be performed in the same system.This is an example of

• A)competitive advantage.
• B)technological innovation.
• C)productivity gains.
• D)systems integration.

---

Definitions:

Resource Prices

The costs associated with acquiring inputs needed for production, including raw materials, labor, and capital.

Decline

A decrease in the quantity, quality, or level of something over time.

Constant-Cost Industry

An industry in which the cost of production does not change as the industry's output changes.

Long-Run Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity supplied over a period long enough for firms to enter or exit the market.