The Term That Specifically Refers to the Use of Computers

question 101

Multiple Choice

The term that specifically refers to the use of computers to process, record, and store financial reporting data and other information is ________.

• A)information technology
• B)analytical procedures
• C)audit data analytics
• D)trend analysis

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Definitions:

Earned-Income Tax Credit

A refundable tax credit for low- to moderate-income working individuals and families, particularly those with children.

Tax Liability

The total amount of tax that an individual or organization owes to the government.

Social Security

A government program that provides financial assistance to people with an inadequate or no income, especially the elderly and disabled.

Payroll Taxes

Levies placed on either employers or employees, typically based on a proportion of the wages that staff receive from their employers.