Data from Sales Orders, Payroll, Accounting, Financial, Marketing, Purchasing, Inventory

question 67

Multiple Choice

Data from sales orders, payroll, accounting, financial, marketing, purchasing, inventory control, and so forth are processed by a combination of hardware and software called ________________ Processing Systems.

• A) Financial FPS)
• B) Enterprise EPS)
• C) Transaction TPS)
• D) Monetary MPS)

Recognize the role of marginal cost, average total cost, and price in achieving productive and allocative efficiency.

Understand the significance of maximizing consumer surplus and producer surplus in economic welfare.

Distinguish between economic profit, normal profit, and loss scenarios for competitive firms.

Understand the concept of optimal allocation of scarce resources in a purely competitive industry.

---

Definitions:

Options Contracts

Financial derivatives that give buyers the right, but not the obligation, to buy or sell an underlying asset at a specified price on or before a certain date.

Currency Swap

A financial agreement to exchange currency between two parties at a set rate, often used to hedge currency risk.

Interest Rate Swaps

A financial derivative contract between two parties to exchange interest rate payments on a specified principal amount, typically involving the swap of fixed for variable interest rates.

Variable Rate

A type of interest rate that changes over time, usually in connection with a specific index or benchmark rate.