Answer:
The correct answer is c. Management Information System.
Explanation:
A Management Information System is a computer system that gathers, stores, analyzes, displays and reports data with the purpose of aiding decision-makers to be informed and make high quality decisions that are useful to a company. It consists of:
- People, that take advantage a MIS to make effective decisions.
- Hardware, physical structure that supports the MIS.
- Software, computer programs that aid in all the processes to handle the data e.g. analysis, retrieval, etc.
- Databases, that store the data of a MIS.
The information can be related to any area of the company, for example Research & Development (R&D), Marketing, Finances, Project development, Human Resources, etc.
The use of a MIS allows a company to have easy access to information, fast data processing and information retrieval, accurate data analysis, reduction of duplicates and reliable backup for the information stored.
Answer:
The correct answer is: General Agreement on Tariffs and Trade (GATT).
Explanation:
The General Agreement on Tariffs and Trade (<em>GATT</em>) is the first multinational trade treaty signed by twenty-three (23) countries in October 1947 after the events of World War II (<em>WWII</em>) agreeing in eliminating tariffs and increase international trade. After several adjustments, it was replaced by the World Trade Organization (<em>WTO</em>) in 1955 to be assigned as the only organization handling international trade worldwide.
Answer:
The correct answer is letter "C": accountants consider explicit costs only.
Explanation:
Explicit costs are those necessary for the operations of the company such as wages, rent or raw materials. Implicit costs are the opportunity costs companies as a result of giving up factors such as purchases or qualified employee hires.
<em>The </em>accounting profit<em> of a company is calculated by subtracting the explicit costs from the firm's total revenue. The </em>economic profit<em> is computed by subtracting the result of adding the explicit and implicit costs from the company's total revenue.</em>
