The Effectiveness of IT Controls Usually Depends on Both Effective

question 16

True/False

The effectiveness of IT controls usually depends on both effective entity level controls and effective IT general controls.

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Definitions:

Return on Assets

A financial ratio that indicates how profitable a company is relative to its total assets, measuring how efficiently assets are used to generate profit.

Net Income

The amount of money a corporation earns post all deductions for taxes and expenditures from its income.

Total Assets

The sum of all assets owned by a company, including cash, investments, equipment, and property, as recorded on the balance sheet.

Accounts Receivable

Receivables from clients to a corporation for goods delivered or services rendered, pending payment.