If a Company Chooses to Use Computer-Based Accounting,which of the Following

question 1

Multiple Choice

If a company chooses to use computer-based accounting,which of the following is required?

• A)A standalone system that is dedicated to payroll processing.
• B)Regularly scheduled software updates.
• C)Certification by a CPA prior to use for payroll processing.
• D)Certification and bonding of payroll personnel.

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Definitions:

Direct Materials Cost

The expense incurred for raw materials that are consumed directly in the manufacturing process of a product.

Automobile Manufacturer

A company that produces motor vehicles, including cars, trucks, and buses, for sale on a large scale.

Oil Lubricants

Substances used to reduce friction, heat, and wear between mechanical components that are in contact with each other.

Factory Overhead Cost

Represents indirect manufacturing costs not directly attributable to specific units or batches of production, such as maintenance and utilities.