Which of the Following Statements About the Input Activity Is

question 34

Multiple Choice

Which of the following statements about the input activity is correct?

• A) Input is an interface between users and the accounting system.
• B) Input is an information process activity that produces an output.
• C) Input captures and classifies transactions in an accounting system.
• D) Input captures and transforms data according to a prescribed set of instructions.

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Definitions:

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a specific price level, at a given time.

Quantity Supplied

The amount of a good or service that producers are willing and able to sell at a given price during a specified time period.

Price

The price expected, requisite, or delivered in remuneration for an object or service.

Market Price

The contemporary valuation at which a commodity or service can be acquired or disposed of in a commercial environment.