All of the Following Are Fundamental Reasons for Business Applications

question 57

Multiple Choice

All of the following are fundamental reasons for business applications of information technology except:

• A) Support of strategies for competitive advantage
• B) Support of business processes and operations
• C) Compliance with environmental regulations
• D) Decision making support

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Definitions:

Useful Life

The estimated duration of time that an asset is expected to be economically usable by the owner.

Prepaid Item

An expense paid in advance before receiving the benefit of the service or good.

Accrued Liability

A financial obligation that a company has incurred but has not yet paid out or recorded in its financial statements.

Accrual Basis

An accounting method where income and expenses are recorded when they are earned or incurred, regardless of when the cash is received or paid.