Information Storage

question 158

Multiple Choice

Information storage:

• A) Eliminates the need for professional judgment.
• B) Keeps data in a form accessible to information processors.
• C) Provides the basic information processed by an accounting system.
• D) Captures information from source documents.
• E) Cannot be online.

---

Definitions:

Positive Profits

Earnings that occur when a company's total revenues exceed its total costs, indicating financial gain from its operations.

Total Revenue

The overall amount of money generated by a business from the sale of its products or services, calculated by multiplying the price per unit by the number of units sold.

Market Price

The current price at which an asset or service can be bought or sold in a particular marketplace.

Profit-maximizing

Profit-maximizing is the process or goal of a business to operate in a way that achieves the highest possible profit.