Educator Is Concerned with Item Consistency; Items Scored with Different

question 60

Short Answer

Educator is concerned with item consistency; items scored with different point values for correct responses.

Understand the impact of cloud computing on legacy systems and the challenges of migration.

Appreciate the advancements in computing models, including cloud, grid, and utility computing, and debunk common misconceptions about them.

Understand the concept and purpose of a flexible budget and its comparison to static budgets.

Identify the conditions under which a variance analysis is favorable or unfavorable.

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Definitions:

Separation Of Duties

Separation of duties is a key control in internal systems, aimed at reducing the risk of fraud and errors by ensuring that no single individual has control over all aspects of a financial transaction.

Approves Purchases

Refers to the process or authority given to certain individuals or systems to validate and authorize the acquisition of goods or services for a business or organization.

Journal Entries

The basic record-keeping of a company's financial transactions, recorded in the chronological order.

Paid Voucher File

A collection of documents that record and confirm the payments made by a business, often including purchase orders, receipts, and payment advice.