Which of the Following Accounting Information System Activities Is Completed

question 117

Multiple Choice

Which of the following accounting information system activities is completed when merchandise inventory is sold?

• A) preparation and payment of payroll
• B) receipt of customer payment
• C) receipt of goods or services
• D) payment for goods or services

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Definitions:

Formula

A mathematical expression that calculates or describes a relationship among different variables.

Marginal Rate

The rate at which one variable changes as another variable changes marginally or slightly.

Substitution

The economic principle of replacing one input or good for another due to changes in prices or preferences.

Indifference Curve

A graph representing different combinations of goods or services among which a consumer is indifferent, showing preference levels.