Storage Is One Generic Element of the AIS; the Text

question 28

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 one example of each file type?

• A)Purchases, sales, inventory
• B)Purchases, inventory, purchases/inventory
• C)Cash receipts, cash payments, cash on hand
• D)Sales, cost of goods sold, inventory

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Definitions:

Selling Price

The amount of money charged for a product or service, or the sum a buyer pays to acquire something.

Normal Cost

The standard or usual expense associated with manufacturing a product, including direct labor, direct materials, and manufacturing overhead under normal operating conditions.

Portable Computer

A computer designed to be easily moved from one place to another, including laptops, notebooks, and other mobile computing devices.

Outside Supplier

A third-party entity that provides goods or services to a company, which are not produced in-house.