In the Input-Process-Output Model,which of the Following Is an Output

question 101

Multiple Choice

In the input-process-output model,which of the following is an output?

• A) Text and format commands
• B) Page proofs
• C) Accounting data
• D) General ledger program
• E) Break-even analysis program

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Definitions:

Retrospective Approach

The retrospective approach in accounting involves restating past financial statements as if a new accounting policy had been in effect in those periods, to provide consistency in financial reporting.

Depreciation Rate

The percentage or method used annually to allocate the cost of a tangible asset over its useful life, reflecting its consumption, wear and tear, or obsolescence.

Salvage Value

The estimated residual value of an asset after the asset has reached the end of its useful life.

Equipment Purchase

The acquisition of physical assets like machinery, computers, or production tools for business operations, often involving capital expenditure.