Question

Tim Gane works as the sole accountant at Stereolab, Inc., a startup technology company which sells high-end audio and visual equipment used by musicians. The company was founded in 2017, and during that first year recorded $100,000 in sales revenue. At the end of 2017, Tim performed analytics that were used to estimate sales of a new speaker system (Product L.O.U.D.) the company planned to start selling in 2018. Unfortunately, sales of L.O.U.D. flopped throughout 2018, and at the end of 2018 Tim was tasked with performing analytics to diagnose why L.O.U.D. sales were poor and how its sales could be improved moving forward. Thankfully, 2019 was a much more successful year as sales of not only L.O.U.D. increased but all products. When conducting all analytics, Tim had to access databases separately to obtain all of the data he needed. Because Stereolab’s sales revenue increased from $200,000 in 2018 to $1,150,000 in 2019, Tim upgraded his version of QuickBooks.

Which of the following categories describes Stereolab’s choice of integrated accounting software?

Select one:

a. Small business accounting software

b. Mid-range accounting software

c. Large-range accounting software

d. Specialized accounting information systems

Answer 1