When a Company Is Setting Up Its Accounting Information System

question 34

Multiple Choice

When a company is setting up its accounting information system, it is important for management to select:

• A)A standard set of computer control mechanisms
• B)Only those controls which appear to serve its needs
• C)Controls whose benefits exceed their costs
• D)b and c only

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Definitions:

Business College

A business college is an educational institution that specializes in teaching courses related to business, such as finance, marketing, and management.

Liberal Arts College

An institution of higher education focused on a curriculum aimed at imparting a broad general knowledge and developing intellectual capacities.

Critical Value

A point on the scale of the test statistic beyond which the null hypothesis is rejected in favor of the alternative hypothesis, significant within a particular testing framework.

P-Value

Represents the probability that the observed data would occur by chance in a hypothesis test, used to infer the significance of experimental results.