Calgary Chemicals Plans to Utilize Its Computers to Provide Continuous

question 69

Multiple Choice

Calgary Chemicals plans to utilize its computers to provide continuous auditing of their financial statements.One obvious benefit of this technology would be:

• A)less scrutiny from agencies such as Revenue Canada.
• B)to shift financial decision making from human beings to programmed technology.
• C)early detection of financial problems.
• D)a reduction in the number of accountants required by the firm.

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Definitions:

Budget Line

A graphical representation of all possible combinations of two goods that a consumer can purchase given their income and the prices of the goods.

Commodity 1

A term typically used to denote the first item or primary focus in a series of commodities being analyzed or discussed.

Budget Line

A visual depiction of all the different combinations of two products that can be bought given certain prices and a specific income level.

Punk Rock

A genre of music that emerged in the 1970s, characterized by fast, hard-edged music and attitudes of rebellion and anti-establishment.