A Decision Support System

question 214

Multiple Choice

A decision support system

• A) focuses only on numerical data.
• B) makes it easy for a marketing manager to get and use information as s/he is making decisions.
• C) organizes incoming information into a data warehouse.
• D) is a place where databases are stored so that they are available when needed.
• E) is a system for linking computers within a company.

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Definitions:

Inventory Records

Documents that track the quantity, type, and value of a company's products in stock.

Lower of Cost

An accounting principle that dictates inventory and other assets should be recorded at the lesser of their historical cost or current market value.

Inventory Valuation

The process of calculating the cost assigned to inventory items to determine the cost of goods sold and the inventory asset value at the end of an accounting period.

Weighted Average

A calculation that takes into account the varying weights or significance of different items in a data set, producing a mean value.