Application Controls

question 84

Multiple Choice

Application controls

• A) can be classified as input controls, processing controls, and output controls.
• B) govern the design, security, and use of computer programs and the security of data files in general throughout the organization.
• C) apply to all computerized applications and consist of a combination of hardware, software, and manual procedures that create an overall control environment.
• D) include software controls, computer operations controls, and implementation controls.

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Definitions:

Equity Method

An accounting technique used by a company to record its investment in another company when it holds significant influence but not full control or majority ownership.

Cash Dividends

A corporation's disbursement of earnings to its shareholders as cash.

Investment In Vallerio Corporation

A financial asset or stake acquired in the Vallerio Corporation, signifying ownership or equity interest in the firm.

Temporary Investment

Short-term investments made with the intention of converting them into cash within a short period, usually one year or less.