Storage Is One Generic Element of the AIS; the Text

question 25

Multiple Choice

Storage is one generic element of the AIS; the text explains that data stored electronically often are grouped into three types of files.Which of the following includes three examples of the same file type?

• A)Purchases, cash receipts, sales
• B)Inventory, cash receipts, sales
• C)Purchases, cash, sales
• D)Inventory, cash, sales

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Definitions:

Recognizable Brand Name

A brand name that is widely known among the public and is easily recalled or recognized due to its reputation or marketing.

Monopoly Power

Refers to the ability of a firm or entity to control the market price and output of a product or service, due to lack of competition.

Perfect Competitor

An individual or firm operating in a perfect competition market structure, unable to influence the market price and thus takes it as given.

Essential Resource

A fundamental input or commodity that is considered vital for the production of goods and services and the functioning of an economy or ecosystem.