Careful Consideration of the Use of Computers in Accounting Indicates

question 275

Multiple Choice

Careful consideration of the use of computers in accounting indicates that computers

• A) will soon eliminate all of the accounting functions.
• B) are tools to help the accountant perform his or her job.
• C) are of little use to small-business owners that need accounting services.
• D) have a very limited use in accounting due to inadequate privacy controls.

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Definitions:

Straight-Line Depreciation

A technique for distributing the expense of a tangible asset uniformly throughout its lifespan.

Break-Even Lease Payment

The lease payment amount at which the cost of leasing exactly equals the financial benefits received, resulting in no profit or loss.

Tax Rate

The share of financial gain upon which the government imposes taxes on entities or individuals.

MACRS Depreciation

A method of depreciation in the United States that allows for accelerated depreciation of assets under the tax code.