BEC 1122016

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  1. The definition of economic cost is:
    the sum of all explicit and implicit costs of the business firm.
  2. ---------------------- is the total cost of all resources used to produce a good or service.
    Economic cost is the total cost of all resources used to produce a good or service.
  3. ------------------------------cost is payments made to outsiders to acquire and use all necessary factors of production
    Accounting (or explicit) cost is payments made to outsiders to acquire and use all necessary factors of production
  4. what are Accounting (or explicit) cost?
    Accounting (or explicit) cost is payments made to outsiders to acquire and use all necessary factors of production
  5. -------------------------- are all payments that must be made to obtain and retain all required factors of production, including normal profit and opportunity costs.
    Economic costs are all payments that must be made to obtain and retain all required factors of production, including normal profit and opportunity costs.
  6. ----------------------------------- are all costs of production, both implicit and explicit, including the imputed return on capital and risk-taking (normal profit) and opportunity costs and market value depreciation of capital assets (not merely the depreciation for accounting or tax purposes).
    Economic Cost are all costs of production, both implicit and explicit, including the imputed return on capital and risk-taking (normal profit) and opportunity costs and market value depreciation of capital assets (not merely the depreciation for accounting or tax purposes).
  7. ----------------------- includes only future costs that differ between alternatives being considered.
    relevant cost includes only future costs that differ between alternatives being considered.
  8. Advantages of using the net present value method for decision making include the following:

    ---------------------------------

    Given a perfect market, correct decision advice will be obtained.

    A correct ranking will be obtained for mutually exclusive projects given similar lives and investments.

    An absolute value is obtained.
    Advantages of using the net present value method for decision making include the following:

    The time value of money is considered (compounding of returns).

    Given a perfect market, correct decision advice will be obtained.

    A correct ranking will be obtained for mutually exclusive projects given similar lives and investments.

    An absolute value is obtained.
  9. Advantages of using the net present value method for decision making include the following:

    The time value of money is considered (compounding of returns).

    -------------------------------------

    A correct ranking will be obtained for mutually exclusive projects given similar lives and investments.

    An absolute value is obtained.
    Advantages of using the net present value method for decision making include the following:

    The time value of money is considered (compounding of returns).

    ---------------------------------------------

    A correct ranking will be obtained for mutually exclusive projects given similar lives and investments.

    An absolute value is obtained.
  10. Advantages of using the net present value method for decision making include the following:

    The time value of money is considered (compounding of returns).

    Given a perfect market, correct decision advice will be obtained

    ----------------------------------------------

    An absolute value is obtained.
    Advantages of using the net present value method for decision making include the following:

    The time value of money is considered (compounding of returns).

    Given a perfect market, correct decision advice will be obtained.

    A correct ranking will be obtained for mutually exclusive projects given similar lives and investments.

    An absolute value is obtained.
  11. Advantages of using the net present value method for decision making include the following:

    The time value of money is considered (compounding of returns).

    Given a perfect market, correct decision advice will be obtained.

    A correct ranking will be obtained for mutually exclusive projects given similar lives and investments.

    ----------------------------------
    Advantages of using the net present value method for decision making include the following:

    The time value of money is considered (compounding of returns).

    Given a perfect market, correct decision advice will be obtained.

    A correct ranking will be obtained for mutually exclusive projects given similar lives and investments.

    An absolute value is obtained.
  12. Advantages of using the net present value method for decision making include the following:

    -----------------------------------

    ---------------------------------

    -----------------------------

    ---------------------------------------
    Advantages of using the net present value method for decision making include the following:

    The time value of money is considered (compounding of returns).

    Given a perfect market, correct decision advice will be obtained.

    A correct ranking will be obtained for mutually exclusive projects given similar lives and investments.

    An absolute value is obtained.
  13. A software tool used to infrequently select or access items in the database would most likely be:
    a query utility program.
  14. NDP = ? - Depreciation
    NDP = GDP - Depreciation
  15. NDP = GDP - ?
    NDP = GDP - Depreciation
  16. ? = GDP - Depreciation
    NDP = GDP - Depreciation
  17. A network of computers located throughout an organization's different facilities and linked to a centralized computer to fulfill information processing needs is called:
    distributed data processing.
  18. ------------------------- is the use of small quantities of a mainframe computer's central processing unit's (CPU) time by a number of users, usually for a fee based on time used.
    Time-sharing is the use of small quantities of a mainframe computer's central processing unit's (CPU) time by a number of users, usually for a fee based on time used.
  19. In distributed or cooperative systems, the responsibility for ensuring that adequate backups are taken is the responsibility of --------------------------- because the systems are under the control of users.
    In distributed or cooperative systems, the responsibility for ensuring that adequate backups are taken is the responsibility of user management because the systems are under the control of users.
  20. ------------------------------------ provides information, both current and projected (based on historical information), to management that will be useful in making decisions about the operation of the business.
    Managerial accounting provides information, both current and projected (based on historical information), to management that will be useful in making decisions about the operation of the business.
Author:
Joens1313
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314055
Card Set:
BEC 1122016
Updated:
2016-01-13 04:53:12
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BEC 1122016
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