The Old Inventory Management System Required That Orders Were Entered

question 48

Essay

The old inventory management system required that orders were entered onto a paper form and then a data-entry clerk typed the information into a computer system.In the new system,the data is to be captured at the source.What are the advantages of capturing data at the source as compared to using the old paper form?

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Definitions:

Exchange-Listed Stocks

Shares of companies that are traded on a formal exchange, such as the New York Stock Exchange or Nasdaq.

Corporate Ownership

The legal ownership of a corporation, typically represented by shares of stock which provide voting rights and potential dividends to their holders.

Common Stock

Shares that give owners voting rights but only residual claims to the firm’s assets and income distributions.

Not-For-Profit Cooperative

An organization owned and operated by its members with the primary goal of meeting their needs and aspirations without seeking to make a profit.