The Convergence of Real and Digital Worlds Is the Result

question 6

Multiple Choice

The convergence of real and digital worlds is the result of

• A)the work of William Gibson, who coined the term cyberspace.
• B)the implementation of ideas found in science fiction films and books.
• C)the unlimited proliferation of interlinked smartphones, tablet devices, sensors, sophisticated algorithms, databases, and other elements.
• D)Steve Jobs, the late visionary CEO of Apple, Inc.
• E)the researchers at Xerox Palo Alto Research Center (PARC).

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Definitions:

Absorption Costing

An accounting method that includes all manufacturing costs (direct materials, direct labor, and both variable and fixed manufacturing overhead) in the cost of a product.

Factory Building

A structure designated for manufacturing processes, where raw materials are transformed into finished goods.

Variable Costing Income Statement

A financial statement format that only includes variable costs in the calculation of cost of goods sold, making it useful for internal decision-making.

Variable Cost of Goods Sold

Expenditures that fluctuate in direct relationship with the amount of goods produced or sold, for instance, materials and labor costs.