Which of the following is a way in which technology has changed the way businesses operate?

• A. Eliminating the need for financial statements
• B. Making manual bookkeeping mandatory
• C. Automating accounting processes through specialized software
• D. Reducing the importance of data security

Answer: (C)

Verified step by step guidance

1. Understand the context of the question: The problem is asking about how technology has impacted business operations, specifically in the realm of accounting and financial processes.
2. Eliminate incorrect options: Analyze each option to determine its validity. For example, 'Eliminating the need for financial statements' is incorrect because financial statements are still essential for decision-making and compliance.
3. Evaluate the option 'Making manual bookkeeping mandatory': This is also incorrect because technology has reduced the reliance on manual bookkeeping by introducing automated systems.
4. Consider the option 'Reducing the importance of data security': This is incorrect because technology has increased the importance of data security due to the rise of digital data storage and cyber threats.
5. Identify the correct answer: 'Automating accounting processes through specialized software' is correct because technology has enabled businesses to streamline accounting tasks, improve accuracy, and save time through automation.