Documentation of the Accounting System Allows

question 58

Multiple Choice

Documentation of the accounting system allows:

• A)The accountant to analyze and understand the procedures and business process and the systems that capture and record the accounting data.
• B)The non-accountant to create a picture or chart of what should happen within the accounting system.
• C)The investor to see inside the accounting system so that he / she can better understand the financial statements.
• D)The accountant to determine which financial statements will be necessary to properly report the results of operations.

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Definitions:

Appeal to Higher Loyalties

Appeal to higher loyalties is a term used in sociology to describe a situation where an individual justifies breaking societal norms or laws by claiming allegiance to a more significant cause or authority.

Condemning Judgments

Harsh criticisms or assessments that express strong disapproval of someone or something.

Justifications

Reasons or arguments presented in support of an action, belief, or theory.

Rationalizations

The process of providing reasonable explanations or justifications for thoughts, actions, or feelings, often to hide true motives.