Minicomputers Are Relatively Small, Inexpensive Computers That Perform the Same

question 26

True/False

Minicomputers are relatively small, inexpensive computers that perform the same functions as mainframe computers, but to a limited extent.

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Definitions:

Variable Costing

A ledger maintaining technique that factors in only the variable costs incurred during production (direct materials, direct labor, and variable manufacturing overhead) into product pricing.

Absorption Costing

In this financial accounting strategy, the entirety of manufacturing expenses—encompassing direct materials, direct labor, and both variable and fixed overheads—are captured in the cost of a product.

Segmented Income Statement

An income statement broken down into segments or divisions of a company, showing financial performance for each separately.

Electronic Calculators

Electronic devices used for performing mathematical operations, ranging from basic to complex calculations.