Match Each of the Principles and Phases in the Development

question 60

Short Answer

Match each of the principles and phases in the development of an accounting system with the statement that best describes them.
a. Cost effectiveness
b. Flexibility
c. Useful output
_____ 1. Information must be understandable, relevant, reliable, timely, and accurate.
_____ 2. Benefits of information must outweigh the cost of providing it.
_____ 3. The system should accommodate a variety of users and changing information needs.
_____ 4. The accounting system must consider the needs and knowledge of various users.
_____ 5. The system should be capable of meeting the changes in the demands made upon it.

---

Definitions:

Metamorphic Rocks

Rocks that have been transformed by heat, pressure, or chemically active fluids, altering their original composition or structure.

Plutonic Rocks

Intrusive igneous rocks that crystallize deep underground from magma, such as granite and diorite.

Continental Crust

The relatively thick part of the Earth's crust that forms the large landmasses. It is generally older, less dense, and composed mainly of granite.

Plate Boundary

Boundaries at the junction of two tectonic plates, frequently linked with earthquakes and volcanic actions.