Careful Consideration of the Use of Computers in Accounting Indicates

question 275

Multiple Choice

Careful consideration of the use of computers in accounting indicates that computers

• A) will soon eliminate all of the accounting functions.
• B) are tools to help the accountant perform his or her job.
• C) are of little use to small-business owners that need accounting services.
• D) have a very limited use in accounting due to inadequate privacy controls.

Identify the categories of total costs and their impact on pricing.

Explain consumer behavior and responses to price changes in various product categories.

Assess the role of competition in pricing decisions.

Compare different pricing strategies and their applications.

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Definitions:

Operating Activities

The day-to-day actions that involve the production, sales, and delivery of a company's product or service, as reflected in its income statement.

Statement Of Cash Flows

A financial document that provides a summary of a company's cash inflows and outflows over a specific period.

Indirect Method

A technique used in cash flow statements where net income is adjusted for changes in balance sheet accounts to calculate cash flow from operating activities.

Operating Activities

Actions related to the day-to-day functions of a business that directly affect its cash inflows and outflows, such as sales, purchase of inventory, and payment of salaries.