Describe data processing in accounting by selecting the correct statements below. (Check all that apply.) Multiple select question. Online processing enters and processes data as soon as source documents are available. A disadvantage of online processing is timeliness. Accounting systems differ with regard to how input is entered and processed. Batch processing accumulates source documents for a period of time and then processes them all at once. An advantage of online processing is timeliness. An advantage of batch processing is the lack of updated databases for management to use when making decisions.

The gomez company, a merchandising firm, has budgeted its activity for december according to the following information: • sales at $500,000, all for cash. • merchandise inventory on november 30 was $250,000. • the cash balance at december 1 was $20,000. • selling and administrative expenses are budgeted at $50,000 for december and are paid for in cash. • budgeted depreciation for december is $30,000. • the planned merchandise inventory on december 31 is $260,000. • the cost of goods sold represents 75% of the selling price. • all purchases are paid for in cash. the budgeted cash disbursements for december are:

3. which of the following occupations relate to a skill category of mathematics and data? select all that apply. (2 correct answers) engineer financial analyst mechanic sales person 4. which of the following occupations relate to a skill category of words and literacy? select all that apply. (2 correct answers) educator lawyer marketing manager psychologist architect

Why does the downward-sloping production possibilities curve imply that factors of production are scarce?