When Iteration Is Indicated for an Element or a Group

question 51

Multiple Choice

When iteration is indicated for an element or a group of elements in the data dictionary:

• A) a simple sequence of structured English statements is all that is necessary.
• B) an IF..THEN...ELSE structured must be present in the structured English statements.
• C) DO WHILE, DO UNTIL, or PERFORM UNTIL structured English statements must be included.
• D) a decision table must be used to depict the logic.

---

Definitions:

Verifiability

An accounting principle that ensures all information reported is backed by evidence and can be confirmed by independent observers.

GAAP

Generally Accepted Accounting Principles; the standard framework of guidelines for financial accounting used in any given jurisdiction.

Reliability

In accounting, it refers to the accuracy and consistency of financial reporting, ensuring that information faithfully represents the entity's financial condition.

Materiality Constraint

An accounting principle that permits ignoring rules following the generally accepted accounting principles (GAAP) if the impact of adhering to them is so insignificant that it would not affect the decision-making process of someone reading the financial statements.