Which of the Following Refers to a System That Summarizes

question 36

Multiple Choice

Which of the following refers to a system that summarizes detailed data from the transaction processing systems in standard reports for middle-level managers?

• A) Data processing system (DPS)
• B) Management information system (MIS)
• C) Decision support system (DSS)
• D) Executive support system (ESS)

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Definitions:

Funds Efficiently

The effective and productive management of financial resources, ensuring the highest possible return or outcome with the least waste.

Economic Profit

This refers to the total revenue of a business minus its explicit and implicit costs, representing the true profitability after all costs are accounted for.

Entrepreneurship Reflects

Describes the act of initiating, designing, and running a new business, often seen as a solution to economic needs or as an opportunity for innovation.

Market Power

The ability of a firm that is not a pure monopolist to earn persistently large profits, indicating that it has some monopoly power. Because the firm has few (or weak) competitors, it has a degree of freedom from vigorous competition.