a.) Net sales:

Options:

1. is determined by adding total sales for the accounting period

2. is calculated once profit after all expenses are paid

3. is determined once profit after cost of goods sold is deducted

4. deducts sales discount and returns and allowances from gross sales deducting sales discount and returns and allowances from gross sales

5. is calculated by deducting revenues from gross sales

b.) In manufacturing, all costs directly related to production including raw materials, labor, and factory overhead are classified as:

Options:

1. operating expenses

2. inventory expenses

3. cost of goods sold

4. intangible profits

5. administrative expenses

c.) A(n) _____ is a summary of what a company has earned and spent over a given period.

Options:

1. Balance Sheet

2. Trial Balance

3. Income Statement

4. Cash Flow Statement

5. Annual Stockholder's Report

d.) _____ refers to all of the equipment and techniques needed to manage and process information.

Options:

1. A data processing system

2. A transaction system

3. Information technology

4. A relational network

5. An intranet

e.) A(n) _____ is a summary of the money flowing into and out of a firm.

Options:

1. Balance Sheet

2. Short term Budget

3. Income Statement

4. Statement of Cash Flows

5. Annual Stockholder's Report

f.) An expert system:

Options:

1. uses artificial intelligence

2. provides managers with advice similar to what they would get from a human consultant

3. is expensive and difficult to create

4. is a type of management support system

5. is accurately described by all of the above

g.) Which of the following is an example of a data security issue?

Options:

1. software piracy

2. unauthorized access and use

3. deliberate damage

4. introduction of a computer virus

5. all of the above