The Introduction of _______________ Fostered an Era of "Information Technology

question 91

Multiple Choice

The introduction of _______________ fostered an era of "information technology."

• A) electricity
• B) globalization
• C) computer technology
• D) the Internet

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Definitions:

Gross Profit

The difference between sales revenue and the cost of goods sold, representing the basic profitability of a company's core business activities.

Inventory

The total amount of goods and materials held by a company, intended for sale or used in the production of goods to be sold.

Rising Prices

A period or condition where the general level of prices for goods and services is increasing, often measured by indices such as the Consumer Price Index (CPI).

FIFO

First-In, First-Out, an inventory valuation method where goods or materials purchased first are the first to be sold or used.